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Rupee decline starts to cut into Sensex earnings in dollar terms

The recent decline in the US equity market has revealed a significant valuation gap between the Indian and the US equity markets

Topics
Rupee vs dollar | Sensex Markets | stock market trading

Krishna Kant  |  Mumbai 



Rupee vs Dollar
The Indian benchmark ended on Thursday with trailing EPS of $31.6 per unit of the Sensex — down 2.2 per cent from record high EPS of $32.3 at the end of August

The recent depreciation in the rupee has begun to adversely affect the Sensex earnings per share (EPS) in constant currency terms. The index’s underlying EPS when converted into US dollar is down 2.2 per cent during the month, even as it continues to rise in rupee terms. This is the first significant decline in Sensex EPS in dollar terms in the post-pandemic period and could partly explain the fresh round of selling by foreign portfolio investors (FPIs).

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First Published: Thu, September 29 2022. 22:38 IST

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