Stocks get a bashing, rupee at 3-week low as crude crashes

January 07, 2016 19:33

Indian markets joined the global sell-off sparked by China growth concerns as the benchmark Sensex today saw this year's worst single-day fall of 555 points to end at a 19-month low of 24,851.83, pulling down the rupee to more than a three-week low of 66.93.

On the other hand, gold regained the Rs 26,000-level to trade at a three-week high of Rs 26,330 per 10 grams. In the forex market, the rupee weakened another 11 paise to close at over three-week low of 66.93 against the dollar due to heavy demand for the US currency from banks and importers amid a sharp fall in equities.

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