Rupee declined 25 paise to hit a fresh 16-month low of 68.29 per dollar in early trade today ahead of the minutes of US Federal Reserve's last policy meet scheduled to be released later in the day.
Reversing its five-session fall, the NSE Nifty today recovered by 20 points to end at 10,536.70, helped by mild buying in some of the recently beaten-down stocks.
Continuing its downfall for a fifth straight session, NSE Nifty today declined by 79.70 points to end at 10,516.70 as the political situation in Karnataka left investors uneasy.
Nifty dropped by 60.75 pts to end at 10,741.10 in a volatile session as uncertainties around govt formation in Karnataka and growing geopolitical tensions in Korean peninsula hurt investor sentiment.
NSE benchmark Nifty shed its early strong gains to end almost flat after the BJP fell short of a simple majority in Karnataka elections.
US import prices rose less than expected in April as a rebound in the cost of petroleum products was tempered by a drop in food prices.
Nifty slipped by 25 points to 10,716.55 on profit-booking mainly in realty, media, pharma, PSU bank, infra and metal sectors as investors turned cautious ahead of upcoming Karnataka assembly polls.
The broader NSE Nifty rebounded by 97 points to reclaim 10,700-mark following fresh buying in PSU bank, metal, media, energy, auto and FMCG stocks.
The rupee crashed below the 67-mark to close at a 15-month low of 67.13 against the US currency following a surging demand for the dollar as crude oil prices zoomed past USD 75 per barrel level.
US stock index futures were marginally lower on Friday, as caution set in ahead of the April employment report.
To Consider Fund Raising Via Shares, Bonds On May 24
Adani-Wilmar JV Competes Patanjali To Buy Entire Stake Of Co
Deal Valued At Around Rs 5,000 Cr
Economic Times Reports
Fortis Faces MCA Probe ahead of EGM
Director General to look into mismanagement charges
3 Directors nominated by promoters to quit the Board on May 22
Govt may take over the co if mismanagement reported
Business Standard Reports
Bharti's Cedar Svcs May Sell Stake Of 9.23% In Future Retail & Ent
Deal Size Valued At Rs 2,500 Cr
Economic Times Reports
Acquires Foodworld Supermarkets At Rs 40 Cr
Foodworld OSouthern India
Expects acquisition to be completed within 10-12 weeks