Rupee at all-time low, Sensex breaks more than 1,100 points

The Sensex and Nifty fell over 2 per cent on Thursday and the rupee hit an all-time low as investors left riskier assets on the back of inflation data, raising fears of a higher rate hike. could.

The NSE Nifty 50 index fell 2.22 per cent or 359.10 to 15,808 and the S&P BSE Sensex fell 2.14 per cent or 1,158.08 to 52,930.31. Both the indices posted losses for the fifth consecutive session and hit two-month lows.

Indian Rupee falls to record low For the second time this week, it reached 77.63 against the dollar. It settled at 77.5025.

Reliance Industries, HDFC, Bajaj Finance and Bajaj Finserv were the top losers on the Nifty 50, falling between 2 per cent to 3 per cent. Adani Ports was the top percentage loser on the Nifty 50 index, down 6 per cent.

Jaguar Land Rover Parent Tata Motors It closed with a decline of 4.1 per cent ahead of quarterly results.

The focus was on today’s inflation figures. Global sentiment was weak in April after data on a sharp rise in US inflation, aggressive policy tightening by the Federal Reserve and deepening fears of a global economic slowdown.

The Indian stock market has been shaken in recent weeks by fears of a combination of skyrocketing inflation, sudden hike in interest rates, foreign fund outflows and corporate results.

Data from Refinitiv shows that foreign investors have sold Indian equities worth $2.27 billion so far this month, compared to net purchases of $967 million in the same period last month.

Kranti Bathini, director of equity strategy at Wealthmills Securities, said, “For Indian markets, inflation and the Reserve Bank of India’s unexpected rate hikes have created a sort of panic.”

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