Sensex slumps over 600 points, rupee falls sharply against US dollar: 10 updates
Banking and auto stocks led the decline in Indian markets
The rupee remained under pressure for the second day in a row
Indian market indices Sensex and Nifty continued to remain under pressure for the second day on fears that surging oil prices could impact economic recovery. At day's lows, the Sensex fell over 700 points to 36,419 while Nifty slumped below 10,800. The Indian rupee also extended losses today, falling to 71.71.78 against the US dollar. Banking, auto, metal and IT stocks led the losses in Indian markets today. Market volatility India VIX, which is commonly known as fear gauge, surged 7% to 15.99. At the close, Sensex settled at 36,481, down 642 points, while Nifty ended 1.7% lower at 10,817.
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