Markets extend fall on US rate hike blues, weak rupee

November 18, 2016 18:21

Sensex stumbled for the fifth day as it touched a fresh six-month low due to continuous foreign outflows after Fed chair Janet Yellen signaled a rate hike in December policy review.

The rupee too played spoilsport, dropping below the 68-level against the dollar after nearly five months to trade at 68.18 during afternoon trade, before closing at 68.13.

Sentiment took a hit after US Federal Reserve chief indicated that the central bank may hike interest rates next month, lifting the dollar to almost 14-year highs against a basket of major currencies, leading to acceleration in capital outflows by foreign funds, brokers said.

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