Sensex hits 1-week low, down 132 points
The S&P BSE Sensex fell by 132.11 points to 20415.51, the most this month, dragged down by IT stocks, while the rupee gained 60 paise to close at 61.23 on Thursday. Investors shrugged off a deal reached by U.S. lawmakers to end the government shutdown and increase the debt ceiling.
Optimism generated after the U.S. averted the debt crisis for a few months was tempered by the World Bank’s sharply lower growth estimate of 4.7 per cent for the Indian economy. Fresh dollar sales by exporters amid sustained capital inflows also boosted sentiment, helping rupee to end two days of losses.
At the inter-bank foreign exchange market, the rupee opened at 61.54 from the previous close of 61.83 a dollar.