Nifty at lowest level in over a month

Source : REUTERS
Last Updated: Tue, Jul 30, 2013 11:32 hrs
An investor watches the share index at a local share and stock market in the northern Indian city of Chandigarh

India's NSE Nifty fell for a fifth successive session on Tuesday, wiping all gains made so far this month, after the rupee slumped below the key psychological level of 60 to the dollar, hitting oil importers such as Hindustan Petroleum.

The rupee fell after India's central bank left interest rates unchanged on Tuesday and did not announce any more specific measures to defend the currency after announcing this month steps to drain cash from the financial system.

The main BSE index provisionally closed down 1.2 percent to 19,357.43, while the broader NSE index fell 1.21 percent, to its lowest level since May 28.

Havells India closed down 13.4 percent after sales in the April-June quarter disappointed, while oil marketers such as Hindustan Petroleum Corp Ltd extended losses on concerns over higher costs for importing oi.

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