NIFTY down over 200 points due to rupee depreciation
Indian stock markets has lost all the previous gains of last week today due to depreciating rupee. Rupee touched 68 against a dollar today.. again!
Asian markets were quite strong compared to India. Japanese benchmark Nikki 225 was up about 3% today. Gold and Silver on the other hand are up. Gold is currently trading at about Rs 33,800/- for every 10 grams.
War on Syria was a major reason for the markets to react this way! War on Syria could have had a serious impact on the Indian economy mainly leading to rise in the oil prices and indirectly impacting various sectors in the economy.
The major stocks which gained today are (a few of them) – MCX, Lupin, Tech Mahindra, Mphasis, CairnIndia, Coal India, etc.
NIFTY was down about 3.8% today!
US markets have opened higher today..
In other news renowned economist Raghuram Rajan to takeover as RBI chief from tomorrow.