The Bombay Stock Exchange Sensex plunged 360.43 points to close at 33,370.76 on Tuesday, while the National Stock Exchange Nifty ended 101.65 points down at 10,350.15.
India’s benchmark indices and the rupee fell sharply on Tuesday after oil prices rose 3.5% on Monday – their highest since early July 2015 – because of the crackdown on corruption launched by Saudi Arabia’s crown prince. Brent crude hovered around $64 a barrel.
Lupin made the biggest losses on both indices after the pharmaceutical company said its Goa and Indore units had received warning letters from the drug regulator in the United States.
Cipla, Reliance Industries, Sun Pharma and Tata Steel were the other top losers on the Sensex. The State Bank of India, Cipla, Airtel and Yes Bank were the worst performers on the Nifty.
Other Asian shares touched their highest in a decade, and Japan’s Nikkei climbed to its best close since 1992 on Tuesday, Reuters reported.
The Indian rupee fell sharply by 26 paise to 64.94 against the US dollar. It closed at 64.68 on Monday.
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