Bruised by a tumbling rupee the 30-share sensitive index BSE Sensex was trading at a loss of 246.629 points or 1.27% to 19,194.78 at 12:30 hrs.
Jindal Steel shares plunged 17.97% on the news of Naveen Jindal being named as an accused in an FIR by Central Bureau of Investigation (CBI) in coal scam. Naveen Jindal is a Congress MP and the chairman of Jindal Steel and Power Ltd (JSPL).
Shares of GlaxoSmithKline,HCL Technologies,Cipla and NHPC were among the major gainers while Jindal Steel,JSW Energy,Reliance Communications and DLF were in red.
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The 50-share wide exchange NSE Nifty was down 76.75 points or 1.31 % to 5,801.25.
Bank Nifty declined 210.25 points or 1.74 % to 11,876.80 at 12:36 hrs.
A weak rupee makes imports costlier,stoking inflation concerns; thereby minimising Reserve Bank’s scope to extend monetary easing and counter the slowest economic growth in a decade.
Foreign institutional investors (FIIs) sold shares worth a net Rs 114 crore yesterday,as per provisional data from the stock exchanges.
With PTI inputs