MARKET WRAP: Sensex cracks 806 pts as rupee sinks; OMCs tank up to 13%
The Nifty IT index ended nearly 3 per cent lower weighed by Infibeam Avenues, Tata Consultancy Services and Infosys. The Nifty FMCG index, too, slipped nearly 3 per cent weighed by Hindustan Unilever
The benchmark indices settled over 2 per cent lower on Thursday following a weak rupee which sunk to a fresh low in the intraday trade.
The rupee slipped to a fresh record low 73.81 per dollar in intraday trade on Thursday, after settling at a record low of 73.34 on Wednesday.
The S&P BSE Sensex ended at 35,169, down 806 points while the broader Nifty50 index settled at 10,599, down 259 points.
Among major stocks, ICICI Bank settled over 4 per cent to Rs 316. It had risen over 5 per cent to Rs 321.25 in intraday trade on the National Stock Exchange (NSE) after the bank's CEO Chanda Kochhar resigned with immediate effect. ICICI Bank has named Sandeep Bakhshi as MD and CEO for five years with effect from October 3.
Shares of oil marketing companies fell by up to 13 per cent on Thursday on the BSE after Finance Minister Arun Jaitley announced that these companies will absorb excise duty by Re 1 on petrol and diesel. HPCL, BPCL and IOC tanked up to 13 per cent following the announcement.
Among sectoral indices, the Nifty IT index ended nearly 3 per cent lower weighed by Infibeam Avenues, Tata Consultancy Services and Infosys. The Nifty FMCG index, too, slipped nearly 3 per cent weighed by Hindustan Unilever and ITC.
In the broader markets, both S&P BSE MidCap and S&P BSE SmallCap indices settled around 2 per cent lower.
RIL records sharpest intra-day fall in 2018 Shares of Reliance Industries (RIL) have dipped 5.4% to Rs 1,140 per share on the BSE in intra-day trade, recording their sharpest intra-day fall during calendar year 2018. Earlier, on December 18, 2017, RIL had recorded 6.3% decline in intra-day trade and finally settled flat at Rs 919 on the BSE. The stock is the top loser among the S&P BSE Sensex counter.
READ MORE Global Markets
The dollar notched an 11-month top on the yen on Thursday as stunningly strong US economic data drove Treasury yields to their highest since mid-2011, while Asian stocks were pressured as borrowing costs rose at home.
MSCI’s broadest index of Asia-Pacific shares outside Japan skidded 1.1 per cent in response, with South Korea, the Philippines, Indonesia and Taiwan all down.
Even the Nikkei eased 0.2 per cent, as rising yields offset the boost to exporters from a weaker yen.
(with wire inputs)
 "MARKET WRAP: Sensex cracks 806 pts as rupee sinks; OMCs tank up to 13%")
