Market Podcast: Sensex, Nifty close lower on rupee crash, derivatives expiry : Bulletin: Business Today
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Market Podcast: Sensex, Nifty close lower on rupee crash, derivatives expiry

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August 30, 2018

Benchmark indices Sensex and Nifty fell for the second consecutive session as investors fretted over plunging rupee and rising crude oil prices, while August futures and options (F&O) expiry added to market volatility.

The Sensex slipped 33 points, to 38,690. The Nifty fell 15 points to 11,677. Intra-day, the 50-share index moved between 11,698 and 11,639.

Investors offloaded their long bets in F&O segment instead of carrying them forward to the next series for September, adding to volatility.

The rupee plunged to a new life-time low of 70.85 against the dollar (intra-day) today.

Further, global oil prices going past $77 a barrel on a fall in US crude inventories and expected disruptions to supply from Iran and Venezuela dented investor sentiments on domestic bourses.

The BSE Sensex had retreated from a life-time high of 38,989, falling 173.70 points in the previous session.

IndusInd Bank emerged as the worst performer in the Sensex pack, plunging 1.62 per cent, while Maruti Suzuki lost 1.62 per cent.

Among the gainers, Sun Pharma topped by rising 3.03 per cent as the weak rupee tempted buyers to accumulate shares of pharma exporters.
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