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Sensex, Nifty close lower amid rupee crash, negative global cues

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The Sensex and Nifty closed lower today after the indices came under selling pressure amid lower Asian markets, widening current account deficit and rupee touching fresh all time lows.

While the Sensex closed 467 points or 1.22% lower at 37,922, the Nifty fell 151 points or 1.30% to 11,438 level.

Top Sensex losers were Sun Pharma (3.72%), M&M (3.44%) and Vedanta (3.44%).

Of 30 Sensex stocks, 26 closed in the red.

Axis Bank (0.99%) was the top Sensex gainer after the private sector lender announced that Amitabh Chaudhry has been appointed as managing director and CEO from January 1, after incumbent Shikha Sharma steps down at the end of this year.

The stock rose to its 52-week high level of 675.70 rising more than 4.63% in early morning trade.

Meanwhile, the BSE mid cap and small cap indices fell 277 points (1.68%) and 180 points (1.07%), respectively.  

On sectoral basis, auto and banking stocks were the top losers with BSE auto index losing 431 points and BSE banking index falling 317 points, respectively.   

Of 19 BSE sectoral indices, 18 closed lower. The BSE IT index was the sole gainer rising 0.02% on weakening of rupee.

The Indian currency fell 94 paise intra day to 72.67 level, a fresh all-time low on rising crude oil prices, strengthening dollar and a widening current account deficit.
Market breadth was negative with 1048 stocks closing higher compared to 1684 ending in the red on BSE.