The Indian rupee hit an 18-month low on Tuesday shedding 49 paise to a dollar to breach the Rs.44-mark for the first time since March last year. The Indian central bank, Reserve Bank of India's rupee-dollar reference rate was Rs.44.07 on Tuesday. The reference rate is based on 12 noon rates of a few select banks in Mumbai.
By closing time, the markets had lifted up riding piggy-back on falling crude.
The Sensex is hovering in a range at lower levels, fell 93 points at 14,357 and Nifty down 33 points at 4,302.
Sensex fell 54 points at 14,189 and Nifty down 20 points at 4,263.
Tension in Russia has supported the crude rally.
Midcap and small cap stocks are supportive to market breadth.
The Sensex has recovered over 175 points and Nifty 50 points.
A credit crisis is still lingering in US financial space.
Realty, power and capital goods indices are witnessing selling pressure.
