Gold fell by Rs 170 to Rs 38,390 per 10 gram on Friday in the national capital on strong rupee which rallied after Finance Minister Nirmala Sitharaman announced corporate tax cut, according to HDFC Securities.

Tropical Depression Imelda slammed Texas on Thursday, causing devastating flooding, power outages and prompting urgent rescues and warnings across southeastern Texas for people to stay indoors

The Indian rupee opened 24 paise down at 71.36 against the American currency on Thursday after the US Federal Reserve cut its benchmark interest rate.

At the interbank foreign exchange the rupee opened at 71.47 then gained further ground and touched a high of 71.43, registering a rise of 35 paise over its previous close.

K M Birla said that increasingly all the the stakeholders are demanding a higher value, order, accountability and additionally the businesses will have to earn their license to operate in the society as a whole

Several factors such as weak rupee, rising crude oil prices, the outcome of FOMC meet (Federal Open Market Committee) has increased uncertainty and dampened investor sentiment.