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Rupee drops to five-month low

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Indian rupee was trading at a five-month low Friday, dropping to 61.70 to a dollar, as foreign funds continued to sell their stocks and fresh concerns emerged over the situation in Iraq.

Indian RupeeAfter plunging to its lowest level since March 5 with a drop of as much as 38 paise over the previous close, the rupee recovered a bit to 61.61 but the sentiments remained weak for the Indian currency, with traders hoping for some intervention by the central bank.

The rupee Thursday had registered one of the steepest gains in the past month.

Sensex tanks 

A benchmark index of Indian equities markets Friday was trading 310.48 points or 1.21 percent down as metal stocks tanked.

All the stocks were trading in red and heavy selling pressure was seen in metal, capital goods, banking, auto, oil and gas and consumer durables sectors.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,406.87 points, was trading at 25,278.53 points (at 12.10 p.m.), down 310.48 points or 1.21 percent from the previous day’s close at 25,589.01 points.
The Sensex has touched a high of 25,406.87 points and a low of 25,276.34 points in the trade so far.
The S&P BSE metal index tanked by 360.54 points, capital goods index slumped by 324.73 points, bankex dropped by 307.76 points, auto index slipped by 299.28 points, oil and gas index dipped by 205.25 points and consumer durables index slid by 160.55 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 95.90 points or 1.25 percent down at 7,553.35 points.