Sensex dips below 16K, rupee hits record low past 54.40 per US dollar

Sensex dips below 16K, rupee hits record low past 54.40 per US dollar Zeebiz Bureau

Mumbai: The BSE Sensex fell below the 16,000 level for the first time in four months in the mid- session trade Wednesday as the rupee took a severe beating further to touch a record low of 54.46 after a spurt in capital outflow and problems in bourses over Eurozone crisis.

The rupee fell to as low as 54.46 against the US dollar, breaching its previous record low of 54.30 set in mid December last year.

The 30-share barometer, which gained nearly 112 points in the previous sessions, fell by 340.02 points, or 2.08 percent, to 15,988.23.
Stocks of auto, realty, banking, capital goods and metal sectors were under pressure, dragging down the Sensex.

Similarly, the broad-based National Stock Exchange index lost 101.65 points, or 2.05 percent to 4,841.15.

Market experts said selling pressure goatherd momentum as the weakening rupee fell to an all-time low of 54.46 against the US dollar.

Traders said said market sentiments were jolted by the fall in Asian markets after the Euro was pegged at a four-month low on news that Greece will go to polls triggering fears it may exit the Eurozone.

With PTI Inputs