Sensex down another 340 points as rupee tumbles to record low

Sensex down another 340 points as rupee tumbles to record low

MUMBAI: After an initial rally, the benchmark S&P BSE sensex crashed another 340 points on Wednesday to the lowest closing level in more than 11 months as the rupee continued its free fall to an all-time low.

The rupee continued its downslide for the fifth trading day in a row, dropping to 64.52 against the dollar in afternoon deals, amid fresh measures announced by the Reserve Bank of India (RBI) on Tuesday to increase the availability of cash in the banking system.

The 30-share sensex opened at 18,545.44 and rallied more than 300 points from Tuesday's close to a high of 18,567.70 before declining to a low of 17,807.19. It closed at 17,905.91, a loss of 340.13 points, or 1.86 per cent, the lowest level since Sept. 11, 2012.

source: http://timesofindia.indiatimes.com

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