The Bombay Stock Exchange Sensex hit a 19-month low of 24,455.04 on Friday, declining 317.93 points, PTI reported. The drop has been attributed to the fall in the price of oil to $30 a barrel and muted earnings by some blue-chip stocks.
The National Stock Exchange Nifty also fell below the 7,500-mark, down 99 points to 7437.80, its lowest level since June 4, 2014. In addition, the value of the Indian rupee against the US dollar hit a 29-month low of 67.70 in intra-day trading.
While the Sensex dropped 1.92% over the week, the Nifty fell by 2.15%, a better performance than last week’s 4.68% and 4.54% decline, respectively. For most of the day, shares traded in the negative zone, but selling picked up pace in the latter half.
On Thursday, the rupee depreciated to a 28-month low of 67.20 against US dollar, a level it had last touched on September 4, 2013.
You’ve read Scroll.
Now help sustain it
Scroll is funded by readers, not corporate owners. If you believe our work matters, support our newsroom. Become a member today!
We’re not driven by clicks or corporate interests – just honest, independent reporting. Keep us going. Support Scroll today!