Stock Market
Rupee in freefall, Sensex dips — India’s economy under pressure?
Mumbai/IBNS: The Indian stock market opened in red on Monday, with the BSE Sensex down over 200 points and the NSE Nifty 50 slipping below 26,000, media reports said.
At the opening bell, the Sensex was trading 253 points lower (0.30%), while the Nifty declined 86 points (0.33%).
Among sectors, Nifty Auto was the biggest loser, while Nifty Media was the only sector trading in the green.
Shares of ONGC, M&M, and Eicher traded lower, whereas Vodafone Idea saw gains.
Meanwhile, the Indian rupee fell to a record low of 90.58 against the US dollar, extending its recent losing streak. The currency had already weakened to 90.55 per dollar last Friday, signalling sustained pressure.
Analysts attribute the rupee’s decline to US tariffs on Indian goods announced in April 2025, concerns over exports and trade balances, a widening current account deficit, and rising corporate demand for dollars.
Despite interventions by the Reserve Bank of India (RBI), the currency continues to face stress amid uncertainties in India-US trade negotiations.
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