Sensex close 61 points down as rupee in free fall

A benchmark index of Indian equities markets continued to fall Tuesday losing 61 points as the rupee tumbled to another record low.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 18,142.83 points, closed at 18,246.04 points, down 61.48 points or 0.34 percent from the previous day's close at 18,307.52 points.

The Sensex touched a high of 18,306.46 points and a low of 17,970.98 points during the day's trade.

On Monday, when the rupee posted its biggest single-day loss in nearly two years, sliding 2.3 percent. This led to a massive sell-off in the equities markets with the Sensex falling by 290.66 points or 1.56 percent.

The bearish sentiment in the market was led by the rupee hitting yet another record low in early Tuesday, falling below 64 against a dollar.

The partially-convertible rupee touched a new low of 64.11 in pre-noon trade at the inter-bank currency market here, surpassing the previous record low of 63.30 Monday.

Later it recovered a bit and was trading at 63.50 against a dollar at 4.00 p.m. Indian standard time, after an apparent intervention by the Reserve Bank oF India (RBI).

Last Friday and Monday's trade losses eroded market capitalisation by around Rs.3.10 lakh crore.