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Sensex ends 550 points down on weak rupee, RBI rate hike fears

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Mumbai, 3 October : Amidst a weak rupee and a likely hike in interest rates by the Reserve Bank of India (RBI), the key Indian equity indices closed in the red on Wednesday, with the S&P BSE Sensex closing 550 points lower, and the Nifty50 below the 11,000-mark.

Earlier in the day, the Indian rupee slipped to 73.42 per US dollar — the lowest-ever — against the greenback at the Inter-Bank Foreign Exchange Market.

However, it recovered 24 paise to 73.18 later in the day.

Heavy selling pressure was witnessed in auto and banking stocks. Among others pulling the S&P BSE Sensex down were IT and FMCG counters.

“The sales figures (released on 1st of every month) of most automobile companies, especially four-wheelers, were not very good,” said Astha Jain, Senior Research Analyst, Hem Securities.

At 3.30 p.m, the wider Nifty50 on the National Stock Exchange provisionally closed at 10,858.25 points, lower 150.05 points or 1.36 per cent from its previous close.

The S&P BSE Sensex, which opened at 36,602.85 points, closed at 35,975.63 points, down 550.51 points or 1.51 per cent from its previous close of 36,526.14 points.

It touched an intra-day high of 36,602.85 points and a low of 35,911.82 points.

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Clean chit to Fadnavis overturned, SC orders probe

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New Delhi, 1 Oct : In a major setback to Maharashtra Chief Minister Devendra Fadnavis, the Supreme Court on Tuesday set aside a Bombay High Court order that prevented the trial court from examining a poll-related complaint against him.

The apex court has set aside concurrent clean chit by trial court and Bombay High Court to Fadnavis on filing false election affidavit allegedly not disclosing two criminal cases pending against him. The apex court has allowed the trial court to examine if he concealed criminal cases in the nomination papers filed.

A complaint was filed by Satish Ukey against Fadanvis in the magistrate’s court seeking his prosecution for not disclosing all the details of pending criminal cases. The case was quashed by the High Court. Then, the petitioner filed the appeal in the apex court. With the top court allowing the appeal, the complaint will be revived before the magistrate’s court as per procedure. Although, this direction will have no bearing upon the forthcoming Assembly elections in the state.

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23 Taliban terrorists killed in airstrikes by afghan security forces

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23 Taliban terrorists killed in airstrikes by afghan security forces

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Maharashtra, Haryana to go to polls on Oct 21, counting on Oct 24

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