24.11.11

Sensex at a 2 year low !

A combination of global and local factors, which include margin calls for speculators, the continuing political impasse at the Centre, weakness of the Indian rupee, lower growth numbers in the US and the lingering weakness in Europe, weighed heavily on Dalal Street investors on Wednesday. They pulled the sensex down by 365 points to 15,700 after dipping to a two-year low of 15,479. Investors’ wealth eroded by Rs 1.1 lakh crore. In the foreign exchange market, the rupee weakened against the dollar to trade at 52.75, an all-time low, but suspected selling of dollars by RBI helped it close at 52.38, weaker by 6 paise from Tuesday’s close.

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