NEW DELHI: Investors considerations over the weakening rupee and trade battle between US and China came back to hang-out equity markets on Monday as Sensex misplaced more than 500 points right through the day.
The 30-share index misplaced 505.13 points to near at 37,585.51 while the broader 50-share NSE Nifty closed at 11,377.75, dropping 137.45 points. Both the indices misplaced to the track of 1.20 per cent.
The rupee fell more than 1 per cent to 72.70 in opposition to america greenback on Monday versus its earlier shut of 71.80.
The govt past due on Friday mentioned it would take measures to chop down "non-necessary" imports, ease in a foreign country borrowing norms for the producing sector and relax regulations round banks elevating masala bonds, or rupee-denominated in a foreign country bonds.
However, analysts doubted if these steps would save you the rupee's declines.
"There were expectations that something substantial will be planned to hold the rupee, but the measures the government had in hand were limited and a little long term in nature. So they will take their own time to have an impact," mentioned Naveen Kulkarni, Head of Research at Reliance Securities.
Investors had been additionally spooked by way of recent trade battle considerations as experiences emerged that Washington was set to announce a new spherical of price lists on Chinese items in the newest escalation in their trade struggle.
All sectoral sub-indices apart from Nifty IT completed within the pink.
(With company inputs)
The 30-share index misplaced 505.13 points to near at 37,585.51 while the broader 50-share NSE Nifty closed at 11,377.75, dropping 137.45 points. Both the indices misplaced to the track of 1.20 per cent.
The rupee fell more than 1 per cent to 72.70 in opposition to america greenback on Monday versus its earlier shut of 71.80.
The govt past due on Friday mentioned it would take measures to chop down "non-necessary" imports, ease in a foreign country borrowing norms for the producing sector and relax regulations round banks elevating masala bonds, or rupee-denominated in a foreign country bonds.
However, analysts doubted if these steps would save you the rupee's declines.
"There were expectations that something substantial will be planned to hold the rupee, but the measures the government had in hand were limited and a little long term in nature. So they will take their own time to have an impact," mentioned Naveen Kulkarni, Head of Research at Reliance Securities.
Investors had been additionally spooked by way of recent trade battle considerations as experiences emerged that Washington was set to announce a new spherical of price lists on Chinese items in the newest escalation in their trade struggle.
All sectoral sub-indices apart from Nifty IT completed within the pink.
(With company inputs)
Rupee, trade war concerns return to sink markets as Sensex loses 500 points
![Rupee, trade war concerns return to sink markets as Sensex loses 500 points]()
Reviewed by Kailash
on
September 17, 2018
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