Indian benchmark indice Sensex fell by 607.57 points as of 11.45 a.m. today, or one percent down at 58,512.15 points, taking the downside trend further down from the previous day's in a sharp reaction to the hike announced by the US federal Reserve.
Nifty is also down by 162.85 points or 0.92% at 11:45 a.m., at 17,466.95 points with 1,017 shares advancing while 2,003 shares show signs of declining, with 122 shares unchanged.
Stocks of Tata Steel, Sun Pharma, Hindustan Unilever Ltd (HUL), ITC, Dr. Reddy's, Infosys, HCL Tech, Titan Company, and Maruti Suzuki were among top Sensex gainers. IndusInd Bank, Housing Development Finance Corporation (HDFC), M&M, Tech Mahindra, HDFC Bank, Axis Bank, Kotak Mahindra Bank were among top index draggers.
Nifty Bank index fell 1.3 per cent or 531 points to trade at 40,083. Tata Steel is likely to remain robust following the board's approval on Friday to the scheme of amalgamation between seven of its group companies and itself.
Rupee to fall up to 82 level?
Indian Rupee fell to its lowest level in 20 years reaching 80.71 per US dollar on Thursday after 75 basis points rate hike by the US Fed, a move that is likely to hike further in the future.
Last time, Indian Rupee fell to its lowest level against the greenback to 80.12 in August. Historically, whenever it fell down heavily, the slide remained at 2.5 rupees fall on average within a month and experts suggest this time the Indian Rupee may weaken up to 81.80 and 82.00 levels in the near future.
