Key equity indices trade in red on weak rupee, high crude oil prices

High crude oil prices, fears over a hike in key domestic lending rates and a weak rupee pulled the key equity indices in the red during the afternoon session of the trade on Wednesday.

Heavy selling pressure was witnessed in auto, IT and TECK (technology, entertainment and media) stocks.

On the currency front, the Indian rupee opened at a record low of 73.25 per US dollar on Wednesday, surpassing its previous low of 72.98 per dollar on September 18.

It slipped further to -- 73.42 -- its lowest-ever mark -- against the greenback at the Inter-Bank Foreign Exchange Market.

At 12.52 p.m., the Indian rupee was trading around 73.08 against the greenback.

The wider Nifty50 of the National Stock Exchange traded at 10,943.75 points at 12.52 p.m., lower by 64.55 points or 0.59 per cent from its previous close.

The S&P BSE Sensex, which opened at 36,602.85 points, traded at 36,316.23 points, down 209.91 points, or 0.57 per cent from its previous close of 36,526.14 points.

So far, it has touched an intra-day high of 36,602.85 points and a low of 36,200.99.

--IANS

ravi/in