Sensex Slips Below 36,000 Level, Hits 3-Month Low; Rs 1.79 Lakh Crore Gets Wiped Out
Investors remained concerned over sustained foreign capital outflows and rising crude oil prices that crossed the USD 85 per barrel.
Mumbai, October 3: Benchmark indices extended losses in late trade as the Sensex closed below 36,000 and Nifty below 10,900 levels amid weakening rupee, higher crude oil prices and Italy crisis. According to an Economic Times report, BSE Sensex has hit a 3-month low and almost Rs 1.79 lakh crore wealth has got wiped out as the market capitalisation of all the BSE-listed companies plunged to Rs 143.64 lakh crore from Rs 145.43 lakh crore. The M-cap has now overall tanked by Rs 15.74 lakh since August 31. Rupee Breaches 73-Mark Against US Dollar, Slips to Fresh All-Time Low.
Selling happened on the back of rising crude oil prices and tumbling rupee. The rupee today breached the 73-mark for the first time ever on Wednesday on account of rising global oil prices and unabated capital outflows.
Investors remained concerned over sustained foreign capital outflows and rising crude oil prices that crossed the USD 85 per barrel.
(The above story first appeared on LatestLY on Oct 03, 2018 05:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).