Sensex tumbles 746 pts on free-fall of rupee

Mangalore Today News Network/DHNS

Mumbai, Aug 16, 2013: The benchmark BSE Sensex tumbled over 746 points in mid-session today on increased capital outflow sparked by the rupee hitting a record low amid weak global trends.

After gaining 703 points in the last four sessions, the Sensex plunged 746.20 points, or 3.85 per cent, to 18,621.39 at 1430 hrs as stocks led by consumer durables and banking sector suffered major losses.

 

The broad-based National Stock Exchange index Nifty nosedived by 233.05 points, or 4.05 per cent to 5,509.25.

Brokers said trading sentiment dampened on increased selling by foreign funds as rupee fell to record low of 62 per dollar raising fears of slowing economic growth.

They said a weak trend in Asian and European stock markets on speculations that the US Federal Reserve might roll back monetary stimulus further influenced the market.

Today major losers were Reliance Industries, BHEL, Maruti, HDFC, Sterlite Industries and ICICI Bank.