Key benchmark indices erased sharp initial gains and ended sharply lower in choppy trade as the rupee hit record low below 64 against the dollar on rising expectations that the US Federal Reserve will soon start withdrawing its monetary stimulus to the US economy. Weakness in European stocks also dampened sentiment. The BSE Sensex settled at its lowest level in over 11 months and below the psychological 18,000 mark. The 50-unit CNX Nifty also settled at over 11-month low at 5302 down by 99 points.
The market breadth, indicating the overall health of the market, was negative. The advance to decline in Nifty50 stocks were 11 advances to 39 declines. In NSE all sectoral indices baring Bank & Finance were closed in the red, Energy & Infra were the worst hit sectors.
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