News

Rupee slumps to over two-year low, sensex falls 200 points

by IBNS 03 Dec 2015, 09:45 pm

Mumbai, Dec 4 (IBNS) Indian stocks slumped sharply on Friday amid a selloff in global markets lowering the sensex by . 200 points and the rupee fell to over 2-year low of 66.95/dollar, as compared to its previous close of 66.65.

The weakness in the global markets has been attributed to the European Central Bank's stimulus package which fell well short of markets' high expectations.

Overnight, Wall Street's benchmark S&P 500 stock index had its biggest one-day percentage decline since Sept. 28, dropping 1.4 per cent. The pan-European stock index of FTSEurofirst 300 shed 3.3 per cent, the biggest fall since August 24.