Rupee Weakens To 2 Week Low As Sensex Goes Down Over 1000 points In Last 4 Days

Ads11

Ads2

 Indian stocks markets witnessed strong selling pressure on Friday, with the Sensex falling over 300 points. The Nifty also slumped to near 9,700 at day's low.

Weak global markets, some earnings disappointment and profit-taking weighed on the Indian markets. The rupee has also come under pressure, falling to two-week low of 64.27 against the US dollar. 

The rupee had closed at 64.08 against the dollar on Thursday.Analysts said Indian markets were vulnerable to a selloff after the strong rally this year.

Meanwhile, Asian Equity Marketsextended a global slide on Friday as tensions ramped up between the United States and North Korea, sending investors fleeing to less risky assets such the yen, the Swiss franc and US Treasuries. 

Overnight, Wall Street closed sharply lower after US President Donald Trump issued a new round of fiery rhetoric, warning Pyongyang against attacking Guam or US allies after it disclosed plans to fire missiles over Japan to land near the US Pacific territory.

 MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1.4 per cent in its third session of declines to a near one-month low, heading for a 2.1 per cent drop for the week. 

 Rahul Shah, VP- equity advisory at Motilal Oswal Securities, said, "Indian markets took a breather after a long three months. This was in sync with the global markets.

Ads3