After a volatile session, Sensex closed the day 563 points lower
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
During the dot-com bubble, it had touched a high of 1.9.
The rupee had recovered by 8 paise to close at 66.91 in Tuesday's trade.
The derivatives expiry on Thursday is also expected to add to the volatility.
At the Interbank Foreign Exchange Market, the rupee resumed lower at 59.72 a dollar from the previous close of 59.67 and declined to a low of 59.88. It bounced back on dollar selling by exporters and some banks, touching a high of 59.30 before settling at 59.35, a rise of 0.54 per cent.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
The 50-share NSE Nifty settled lower by 76.05 points, or 0.88 per cent, at 8,615.25
Increased demand from oil importers for the American currency and a weak opening in the domestic stock market also put pressure on the rupee.
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
Even US equities are now back to end-2014 levels.
n the broader market, both the BSE Midcap and Smallcap indices, were up 1.2% and 0.7% each.
The former finance minister also criticised Prime Minister Narendra Modi over the words he chose to attack his predecessor Manmohan Singh, saying he should remember that the Chair he sat on was used by Pandit Jawaharlal Nehru and even Atal Bihari Vajpayee and hence he should use right language.
The broader markets ended mixed with mid-caps gaining 0.1 per cent and small-caps falling 0.1 per cent on the BSE.
But much depends on govt action & global economy; Sensex gains in 2070 the biggest in five years
The market is clinging to support above the 8,000 mark and hitting resistance above 8,150.
At the Interbank Foreign Exchange market, the domestic currency resumed stable at its overnight close of 60.07 a dollar and immediately touched a low of 60.09.
The Bank Nifty is high beta anyhow and it could move the broader market.
Investors booked profits after strong 641-point rally in the previous two sessions, brokers said.
The rupee may also gain against the euro but be prepared for a snapback in the euro as Greece resolves.
The markets will remain choppy ahead of RBI policy.
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
Forex dealers said dollar's weakness against other currencies overseas supported the rupee.
Market participants are now awaiting Thursday's meeting of the European Central Bank
Between Friday's and Monday's close: Yields on 10-year bonds up 6 basis points, rupee slides 13 paise against dollar, Sensex ends flat
Sensex ended strong, Tata Steel, HUL climb higher.
The rupee on Thursday appreciated 20 paise to end at 62.37, its highest in two weeks, on positive trends in local equities and fresh dollar selling by exporters.
It could be a tough week In the run-up to such an event, the market is always nervous.
May touch 64/$ due to foreign flows slowing down
'Overall, the Indian economy is doing well.' 'Our economic fundamentals are strong and the early signs of recovery are sustainable.' 'This is positive for the market in the long run.'
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Some analysts believe that markets are expected to remain unclear and would have to wait until tomorrow's US non-farm payrolls data.
And why markets could give up 25 per cent of all these gains made since March 2020
The year 2014 has been one of the best for investors in the equity markets.
During March, FPIs were net buyers to the tune of over Rs 21,000 crore (Rs 210 billion) in equities.
Continuing its range-bound movement for the fourth session, the rupee today closed up by two paise at 59.25 ahead of industrial output and retail inflation data.
However, FII outflows of Rs 545 crore (Rs 5.45 billion) capped the gains in the rupee, which had slumped by 126 paise in past two days.
The second half of June could be driven more or less by technical factors triggered by news flow from Greece, the US Federal Reserve and the monsoon. The technical picture seems bearish as of now, says Devangshu Datta.
Investors not stop their SIPs or STPs due to election-related uncertainty.
Large-cap scrips are still trading at a discount to mid-caps.
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