Indian Rupee has now touched the historic low mark and on midday, the value of Indian currency has been 72.69 versus the US dollar. The stock market was hit for the second consecutive day due to weak global trend amid a record fall in rupee and fears of a tension between the US and China on the trade front. On Tuesday afternoon the Sensex dropped more than 500 points to 37,410. The Nifty also slipped 155 points to 11,283. On Monday, the Sensex also dropped more than 450 points.
The Sensex, based on the 30-share barometer of the Bombay Stock Exchange, rose by 89.45 points to 38,000 and Nifty up 30 points at 11,468. However, after a while, the market moved downwards
Brokers and investors, after seeing the tension over the trade front between the United States and China, took a stand of precaution. Besides, the continuous decline in rupee exchange rate also affected the market. With rupee strengthened by 15 paise, the rupee fell by 19 paise to 72.69 in midday.
On Monday, the Sensex declined by 467.65 points to 37,922.17 and the Nifty decreased by 151.00 points to 11,438.10.