Sensex plunges by 800 points, Indian Rupee touches 80.81 per US dollar

Indian benchmark indice Sensex fell by 800 points as of 01:30 p.m. on Friday. which is at 58,314.78 points or 804.94 (1.36%) points down from the previus day, revealing the deep impact caused by the US Fed Reserve decision to hike interest rates steeply and its pledge to continue further to tame the inflation.

Nifty is also down to 17,407.05 or 222.75 points down (1.26%) today.

Stocks of Tata Steel, Sun Pharma, Hindustan Unilever Ltd (HUL), ITC, Dr. Reddy’s, Infosys, HCL Tech, Titan Company, and Maruti Suzuki were among top Sensex gainers. IndusInd Bank, Housing Development Finance Corporation (HDFC), M&M, Tech Mahindra, HDFC Bank, Axis Bank, Kotak Mahindra Bank were among top index draggers.

Tata Steel is in positive zone following the board’s approval on Friday to the scheme of amalgamation between seven of its group companies and itself.

Rupee to fall further: Experts

The Indian Rupee fell to its lowest level in 20 years reaching 80.81 per US dollar on Friday. The Indian Rupee fell to its lowest level against the greenback to 80.12 in August and again on Thursday, revealing the inherent weakness to go down further in value. Experts suggest that this time the Indian Rupee may weaken up to 82.00 level in the near future.