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September 26, Wednesday 2018 10:42 AM       

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       BUSINESS Next Article: Chidambaram blames govt for rise in petrol prices, says it is due to 'excessive taxes'  
       Sensex drops 140 pts as rupee hits new low
 
         Posted on :21:49:13 Sep 5, 2018
   
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       Last edited on:21:49:13 Sep 5, 2018
         Tags: Sensex drops 140 pts as rupee hits new low
 
Mumbai: Falling for the sixth straight session, the BSE Sensex shed about 140 points Wednesday to close at an over two-week low of 38,018.31 as investor sentiment remained bearish amid a plunging rupee and weak global cues.
 
The rupee crashed to a fresh record low of 71.96 against the US dollar in intra-day trade on the back of rising bond yields and crisis in emerging market currencies.
 
Market sentiment was further dampened after a monthly survey showed that India's services sector activity fell in August from July's 21-month peak as new business orders declined.
 
The seasonally adjusted Nikkei India Services Business Activity Index fell from July's peak of 54.2 to 51.5 in August owing to weakest growth in new work in three months.
 
The 30-share Sensex, after opening a shade higher and advancing to 38,250.61 in early trade, quickly slipped below the 38,000-mark.
 
It touched a low of 37,774.42 during the day, before finally ending at an over two-week low of 38,018.31 -- down 139.61 points or 0.37 per cent. It had lost 738.71 points in the previous five sessions.
 
The BSE benchmark is set for its longest string of losses in six months.
 
The 50-issue NSE Nifty too cracked below the 10,400-mark and hit a low of 11,393.85 before finishing 43.35 points, or 0.38 per cent down at 11,476.95.
 
Top losers were HUL, Kotak Bank, Bharti Airtel, RIL, HDFC, Hero Motocorp, Coal India, L&T, Infosys, TCS, Axis Bank, HDFC Bank, ONGC, PowerGrid and M&M, falling up to 2.45 per cent.
 
In contrast, Yes Bank, Vedanta, Adani Ports, Wipro, Sun Pharma, Tata Motors, Bajaj Auto, ICICI Bank, IndusInd Bank, Asian Paints, Maruti Suzuki, ITC, Tata Steel, NTPC and SBI finished with gains of up to 2.93 per cent.
 
Meanwhile, domestic institutional investors (DIIs) net sold shares worth Rs 21.41 crore, while foreign portfolio investors (FPIs) bought shares to the tune of Rs 32.64 crore on Tuesday, provisional data showed.
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       BUSINESS
Next Article: Chidambaram blames govt for rise in petrol prices, says it is due to 'excessive taxes'
 
 
BUSINESS HEADLINES
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Mother Dairy won't cut prices despite Patanjali's cheaper cow milk  
Union Bank of India exits Antwerp diamond market  
Naidu discusses bilateral cooperation in trade and defence with Serbian President  
FundzBazar crosses 2 lakh investors milestone  
Ramdev Baba’s Patanjali launches cow milk, french fries and more  
United Bank of India increases MCLR by five basis points  
RBI submitted a list of high profile fraud cases to PMO: Rajan  
Chemists call for strike on Sep28 against online medicine sale  
Rupee sinks to new low of 72.91, drops 22 paise against USD  
Skills and You develops special module 'Curio'  
Google ready to comply with RBI norms for payment services, says official  
FinMin in touch with RBI for market intervention to contain rupee value  
 
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