After Friday’s breather, Sensex once again crashes by 640 points at close, Rupee plunges close to 82 against dollar

After Friday’s breather, Sensex once again crashes by 640 points at close, Rupee plunges close to 82 against dollar

The tightening monetary policy has aggravated fears of recession among investors, to subdue market sentiment in Europe and India, while Japan’s Nikkei remained positive.

FPJ Web DeskUpdated: Monday, October 03, 2022, 04:14 PM IST
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Although it made gains on Friday, Sensex couldn't sustain the momentum. |

After bouncing back from a losing streak on Friday, Sensex once again crashed by 640 points at close to end October’s first day of trading. Global market sentiment remained low due to central banks hiking interest rates, and Sensex closed below the 57,000 mark once again, and Nifty dropped under 17,000. While all sectors except for Pharma and Healthcare closed in the red, banking, metal and automobile stocks were the worst hit today.

Rupee has another big fall

The Rupee took a big plunge of 49 paise after rising back to 81.36 against the US dollar, to end the day close to 82 against the dollar once again.

Big names dragged down

Adani Enterprises and Adani Ports went down by 9 per cent and 4 per cent respectively, as Gautam Adani remained at the fourth position on the global rich list, after briefly rising to the second position. Among Asian markets, Mainland China’s indices are closed for a week-long holiday, but Japan’s Nikkei emerged as a ray of hope amidst the global gloom.

Owing to a persistent fear about the world slipping into a long recession, European markets started the day on a subdued note.

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