Rupee crashed to 66.49 against the US dollar in opening trade.

In its biggest intra-day crash this year, stock market benchmark Sensex plunged by 1,006 points while Nifty fell below 8,000 level in early trade on Monday due to heavy selling by funds amid global sell-off as worries about China’s economy deepen. Meanwhile, Rupee crashed to 66.49 against the US dollar in opening trade.

Asian markets were also in deep red with Shanghai shares crashing 8 per cent on concerns that the Chinese economy was slowing more than previously thought. Taking cues from global markets, the Sensex nosedived 1,006.54 points, or 3.67 per cent, to 26,359.53 – the biggest fall in day trade in 2015.

The broader NSE Nifty also dipped below the 8,000-level by tumbling 309.05 points, or 3.72 per cent to 7990.90 in early trade. All 50 constituents of Nifty were in red with Tata Motors and ONGC losing the most up to 6 per cent.

Source : http://www.thehindu.com/business/markets/sensex-plunges-in-early-trade-rupee-rate-goes-down/article7574405.ece

Save