Despite the Reserve Bank of India reiterating its determination to contain the speculative fizz in the foreign exchange market, the rupee opened weak on Wednesday. It tested an intra-day low at 61.17/18 against the dollar, compared to its historical low of 61.21 on July 8. However, it closed at 60.40 compared to its previous close of 60.47.
Finance Minister P. Chidambaram did try to talk up the markets a day after the Reserve Bank of India (RBI) reaffirmed its commitment to contain volatility in the foreign exchange market. The stock markets opened with a negative note, tracking the weak global cues.
The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) closed with a loss of 2.64 points. On the National Stock Exchange, the 50-share Nifty closed at 5742 with a loss of 13.05 points. The realty sector lost the most with 2.30 per cent, followed by FMCG, which lost 2.26 per cent, banks 1.84 per cent and power 1.67 per cent.