Business

Sensex, Re slide continues, Gold at 3-week low

  • HT Correspondent, Hindustan Times, New Delhi
  • |
  • Updated: Jun 25, 2013 01:34 IST

The Indian rupee closed at a record low of 59.68 to a dollar and the benchmark BSE Sensex on Monday fell 233 points, or 1.2%, to 18,540 — the lowest close in more than two months — as foreign funds continued to pull out from emerging markets after the US Federal Reserve signalled last week to wind down its monetary stimulus programme.

The price of gold also fell Rs 320 to Rs 27,320 per 10 gm — its lowest level in three-weeks — on heavy selling by stockists, driven by weak global trend.
The broader NSE Nifty fell 1.4%, or 77 points, to 5,590. The rupee had hit an all-time intra-day low of 59.99 on Thursday.

The rollback US Fed Reserve’s stimulus programme, designed to aid economic recovery, will affect funds flow to countries such as India.

Monday’s fall in currency and equity markets also followed global cues on worries about China's economic and financial stability.

 

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