Indian stock markets ended on a weak note with 30-share Sensex shedding over 300 points, extending Friday’s 4 per cent slump on concerns that the recent measures announced by the government to support rupee may be inadequate and could hurt economic growth.
On a provisional basis, 30-share Sensex closed 320.19 points lower at 18,277.99 while the 50-share Nifty shed 93.10 points to end at 5,414.75.
The rupee fell to yet another record low on Monday as the government's steps unveiled last week seemed inadequate to stall the currency's fall.
The currency fell as far as 62.78 to the dollar, breaching the previous low of 62.03 hit on Friday.
India's benchmark 10-year government bond yield rose to 9 percent on Monday afternoon as the rupee continued to make a series of record lows as the government's measures were seen as inadequate to halt the free-fall in the currency.
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