Stocks swoon

The battered rupee on Monday found company among stocks as benchmark indices slumped more than one per cent following worries over a trade war between the US and China.

By Our Special Correspondent in Mumbai
  • Published 11.09.18
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Mumbai: The battered rupee on Monday found company among stocks as benchmark indices slumped more than one per cent following worries over a trade war between the US and China.

The BSE Sensex closed lower by 467.55 points to a three-week low of 37922.17, trimming investor wealth by Rs 1.96 lakh crore. The NSE Nifty also dropped below the 11500-level by plunging 151 points - its biggest single-day fall since February 6 - to close at 11438.10

There was no good news in the bond markets either with yields on the benchmark 10 year security ending at 8.16 per cent.

Experts feel that investors should exercise caution and look at companies which will benefit from the rupee's fall or those who have lower debt levels.