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Indian markets wiped out gains made in the previous trading session as it fell to a six month low on Thursday. The fall was triggered by a sell-off in US markets which saw its worst fall since February due to concerns over FED rate hike trajectory and trade tensions.
The S&P BSE Sensex lost 759 points but closed at 34001 while the Nifty dropped 225 points but managed to hold on to 10,200 which is a positive sign.
In the foreign exchange market, the rupee depreciated further against the US dollar hitting a record low of 74.48 in early trade yesterday.
A sharp plunge in domestic stocks in morning wiped off Rs. 2.6 lakh crore of investor wealth in just one session.
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