Sensex tanks 451 points after rupee dips to record low

A benchmark index of Indian equities markets plunged 451 points or 2.35 percent toward the end of trade Tuesday as the rupee hit a record low of 61.51 against a dollar.

All the sectors were trading in red, led by banking index (bankex), consumer durables, oil and gas, metal, capital goods, public sector undertakings (PSU) and fast moving consumer goods (FMCG).

The partially convertible rupee fell to a new record low of 61.60 against a dollar at around noon trade at the inter-bank foreign exchange market here, surpassing its previous low of 61.21 hit on July 8.

The value of the rupee depreciated by 72 paise. The Indian currency had closed at 60.88 against a US dollar Monday.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 19,127.10 points, was trading at 18,731.17 points around 3.15 p.m. trade session, down 451.09 points or 2.35 percent from the previous day's close at 19,182.26 points.

The Sensex touched a high of 19,131.92 points and a low of 18,667.30 points intra-day.

The S&P BSE bank index lost 441.49 points, followed by consumer durables index which decreased by 370.33 points, oil and gas index was down 236.85 points, metal index's traded down 233.66 points, capital goods index was lower by 224.44 points, PSU index was down 144.65 points and FMCG index was down by 140.06 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was down 136.75 points or 2.41 percent at 5,548.65 points.