Nifty breaches 10,600; Rupee hits life time low in afternoon trade

The rupee hit a life time low in afternoon trade on Thursday hitting Rs 69.1 to a dollar.  The 30-share BSE Sensex closed over 179.47 points lower at 35,037.64 on Thursday declining by 0.51 percent, while the NSE Nifty 50 shed over 82.30 points to end the day at 10,589.10, lower by 0.77 percent.

Other factors in play besides the rupee were global cues, trade tensions, firming crude oil prices and expiry of June series derivatives contracts. Sentiment was impacted by firm crude oil prices over supply disruptions. The partially convertible rupee was trading at a life low of 69.03/04 against the dollar in afternoon trade.

The Sensex had lost over 272 points on Wednesday.

ALSO READ: US-China trade war enters Round 2, as Trump plans to curb Chinese investments

Asian stocks slumped to nine-month lows, as investors worried that the the Trump administration’s approach to trade is harming global economic growth, despite the White House indicating on Wednesday that its approach to Chinese investment in US technology companies would be softer than what was announced earlier.

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