A sharp depreciation of the rupee and rising crude prices continued to cast its ominous shadow on the markets with Nifty falling for second consecutive day, to close at 10589, with a loss of 82 points. Today Rupee registered its all time low at 69.08 against the dollar, which triggered further sell off in the Indian equity markets on a June series derivative settlement day. Nifty ended June series with a fall 1.4%, while Bank Nifty shed 2.34%.
Reality stocks led the fall, down 2.21%, followed by PSU Bank and Media Index, which fell by 1.9% and 1.6% respectively. Metal was the only sector that closed with minor gains.
NTPC was the biggest Nifty gainer, rising 1.8% while Kotakbank rose 1.6% to come in second.
Tech Mahindra, HPCL and Titan were the laggards in the Nifty, plunging 7%, 5% and 4% respectively.
The Advance-Decline ratio was negative for the 12th straight session, which stood at 0.44:1
The Midcap Index and Small cap continued to slide with a fall of 2% each.
Mr. VK Sharma, Head - Private Client Group & Capital Markets Strategy, HDFC Securities.