Stocks continued their downslide on Thursday with benchmark Sensex tumbling 229.09 points to six-week low of 27,602.01 on sharp losses in RIl and ONGC after further drop in crude oil price.Sensex tumbling 229.09 points to six-week low of 27,602.01 on sharp losses in RIl and ONGC after further drop in crude oil price.
Similarly, the 50-issue CNX Nifty of the NSE also plunged by 62.75 points, or 0.75 per cent, to end below 8,300-mark for the first time after one and half months at 8,292.90.
In line fall in local equities, the Indian rupee fell to nine-month low levels of 62.3 against the greenback.
Weak Asian trends on the back of overnight steep fall on Wall Street amid slow down in capital inflows weighed on the stock market sentiment here.
Besides Oil&Gas, realty, IT, power and banking counters also suffered heavy losses while only some of the defensive pharma stocks attracted some buying interest.
Besides RIl and ONGC, Infosys, ICICI Bank, HDFC, Tata Motors, Bharti Airtel, TCS, Tata Steel, Hero MotoCorp, Tata Power and Gail India suffered marked losses.
Brent crude oil fell to five-year low below $65 a barrel, putting pressure on oil companies.
The BSE 30-share barometer resumed lower on weak Asian cues and moved in negative terrain throughout the day before concluding at 27,602.01, a fall of 229.09 points or 0.82 per cent. This is its weakest close since 27,346.33 on October 30.
On Wednesday, Sensex had snapped a three-day falling trend as it recovered by about 34.09 points or 0.12 per cent.
Rs tumbles to 10-mth low vs $, down 31 p at 62.33
The rupee on Thursday plummeted to 10-month low of 62.33 versus the greenback, down 31 paise, on strong dollar demand due to oil firms stepping up purchases of crude oil trading near 5-year lows and a weak trend in shares.
logging its fourth consecutive session of decline, the local currency has now shed 56 paise against the US dollar. Concerns related to capital outflows and a strong dollar in overseas markets against peers like Yen too weighed on the rupee, a forex dealer said.
At the Interbank Foreign Exchange (Forex) market, the domestic currency resumed lower at 62.15 a dollar from last close of 62.02 and immediately the day's high of 62.12.
However, weakness in local equities throughout the day put pressure on the rupee. The currency gradually declined to a low of 62.3575 before ending at 62.33, a fall of 31 paise. This is the currency's weakest close since February, 2014.