Mumbai: The continuing rally in the US markets last week that boosted investor sentiment on Dalal Street and strong foreign fund buying on Monday lifted the sensex to a 10-month high level of nearly 61k points. The sensex has recovered over 9,000 points from its mid-June low of 51,360.
Despite the rally in the stock market, the Indian rupee came in for a sharp weakness and closed at 82.78 to a dollar, down 31 paise on the day as the greenback gained against some of the major currencies. With a lower monthly closing in October, the rupee has now recorded its longest losing streak of 10 months in a row, Reuters reported. During October, the rupee lost 1.8% that took the year’s slide for the Indian currency to almost 11%.
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