Weak rupee depresses equity indices; Nifty ends below 11,500
Mumbai: Broadly negative global cues coupled with a weak rupee depressed the Indian equity indices on Wednesday, with the NSE Nifty50 closing below the psychological level of 11,500 points.
According to market observers, heavy selling pressure was witnessed in consumer durables, capital goods and FMCG stocks.
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At 3.30 p.m., the Nifty50 on the National Stock Exchange (NSE) provisionally closed at 11,476.95 points, lower 43.35 points or 0.38 per cent from its previous close of 11,520.30 points.
The benchmark S&P BSE Sensex, which had opened at 38,192.95 points, provisionally closed at 38,018.31 points, lower 139.61 points or 0.37 percent from the previous close of 38,157.92 points.
The S&P BSE Sensex registered an intra-day high of 38,250.61 points and a low of 37,774.42 points during the day's trade.
The top gainers on the Sensex were Yes Bank, Vedanta, Adani Ports, Wipro and Sun Pharma, while Hindustan Unilever, Kotak Mahindra Bank, Bharti Airtel, Reliance Industries and Hero MotoCorp were the major losers.