Gold also moved up by Rs 70 to Rs 20,430 per 10 grams on rising jewellery demand, reaching nearer to its record level of Rs 20,600 per 10 grams set on November 11.
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
A theory that is doing the rounds is that with election nearing, this depreciation of the rupee will allow politicians of all hues to bring back their ill-gotten wealth.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
'The norm will be even less public accountability, even less transparency, tweets instead of press conferences, TV lectures rather than parliamentary debate, and greater political authoritarianism,' predicts Sunanda K Datta-Ray.
The Sensex ended down 134 points at 28,559 and the Nifty ended 35 points lower at 8,554
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It took 64 days for COVID-19 cases in India to touch the (May 19) one lakh-mark from 100 cases, and another fortnight to cross two lakh cases on June 3. It took 10 days for the tally to touch the three lakh-mark and another eight days for the cases to climb to four lakh.
Contrary to popular belief, there is more to the Nickel futures market than the precious metals like Gold and Silver
Outlook for external sector is the most favourable.
Silver prices zoomed to set an all-time high peak at Rs 12,750 per kilo on the bullion market on Saturday as stockists and jewellers bought silver, shifting from the yellow metal which touched a record high.
Rajesh Bhayani highlights all that you need to know about the online currency.
BSE Mid-cap and BSE Small-cap lost 2.5% and 3.1% after oil prices soared
Export growth picked up mainly owing to rising global crude prices, which pushed up processed petroleum exports by nearly 40 per cent, apart from a broad-based improvement in exports of major foreign exchange earners such as engineering goods and gems and jewellery.
Investors, including large corporations, view them as a potential hedge against uncertainty, and mainstream investment banks too are jumping into the game.
Financials were the top losers after sharp gains in the previous session along with ITC
Benchmark share indices ended lower for the third straight session as investors turned cautious amid tensions in Iraq even as consumer durables shares stole the limelight tracking rally in gold prices.
India's macroeconomic situation has benefited from oil prices' decline.
In the last financial year, GDP growth was 7.3 per cent.
Skittish investors snapped up gold and other safe-haven assets amid fears of a global economic slowdown
The rally is being fuelled by across-the-board buying.
Unlike mutual funds, an ETF trades like a common stock.
The 'BluFin Business Cycle Indicator', which reflects various macroeconomic trends on a monthly basis, stood at 166.3 points in May, 5.8 per cent higher compared to the same month last year, suggesting that the Indian economy is growing at a faster rate than the previous year.
The move is meant to curb or reverse the export of India's financial markets to overseas trading platforms.
Ankita Raina and top seeds men's doubles pair of Rohan Bopanna and Divij Sharan assured India of at least a couple of bronze medals in the tennis competition by progressing to the semifinals at the Asian Games, in Palembang, on Wednesday.
Indices reversed all its losses during late trades.
Exports in May 2012 stood at $24.77 billion.
FPIs, which are holding large exposures in Indian debt, could also be expected to book some capital gains as yields slide down
Many macroeconomic forecasters have built predictive models on inflation, all of which highlight intense downward pressure on prices.
Sensex closed the day 416 points higher.
Usain Bolt's 200 metres triumph at the IAAF World Athletics Championships in Beijing came at a price. The Jamaican took a tumble in bizarre accident, after he was knocked over by a photographer on Segway scooter.
Optimism about a stable govt at the Centre, a demand revival and falling oil prices buoyed the markets.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
The dollar's preliminary moves after the low 80.90 are supportive of a like dollar rally back to 85.50. We should see confirmation of that in the early part of next week, says Sonali Ranade
The first major devaluation of the rupee happened in 1966 when it was pegged against the US dollar at Rs 4.75/$
In 2015, foreign investors slowed net buying of Indian equities.
Markets in countries whose economic fortunes were closely linked to China's growth tumbled.
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