Mumbai: 3:30 pm Market closing: The Sensex ends down 109.33 points at 18519.82, and the Nifty closes at 5581.25, down 27.85 points. The market has sunk further as the rupee hits an all-time low of 60 per dollar. The Nifty too slips below the 5600 and is currently at 5590.70, down 18.40 points. The Sensex is down 71.87 points at 18557.28.
Banking, metals, auto, healthcare stocks are dragging the indices. Technology stocks, meanwhile, are going strong on weak rupee.
Dealers say rupee at all-time low as banks' stop losses triggered, reports Cogencies.
It depreciated by 7 per cent in month of June and 12 percent since May 1.
Claudio Piron, Head of Emerging Asia FX & Fixed Income Strategy, Bank of America expressed concerns about the weakness in Indian currency.
Piron sees rupee touching 61-62 against dollar in the short term. "However, I think that would only last for a couple of months and then we will resume an improvement, because in longer term the Indian rupee, the fundamentals and the current account position will start to improve," he added.
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