Rupee Weakens, Stock Market Trades in Red

Due to the impact of global markets, the domestic currency, the Indian Rupee, continues to weaken. Uncertainties surrounding the India-US trade deal and the outflow of foreign investments have put further pressure on the Rupee. In the previous session, the currency closed at 90.78 against the US dollar, and on Tuesday, it slipped another 5 paise to touch a new low of 90.83.

Analysts say the delay in the India-US trade agreement, market volatility, and rising demand for the dollar are key factors affecting the Rupee. The decline is expected to continue for the next few days, with the possibility of the currency crossing the 91 mark soon.

The weakness in the Rupee has also impacted domestic stock markets. At one point, the Sensex fell over 400 points, while the Nifty hovered around 25,900. As of 9:45 AM, the Sensex traded at 84,854.23, down 359.13 points, and the Nifty was at 25,921.75, down 105.55 points. Analysts attribute the fall to negative global cues and cautious investor sentiment.