Sensex Drops 167 Pts to Close at 38,823; Nifty Above 11,500
Meanwhile, the rupee recovered from early lows to trade higher against the US currency in afternoon session.
Domestic equity benchmark BSE Sensex fell 167.17 points or by 0.43 percent close at 38,822.57 on Friday, 27 September. The Nifty50, on the other hand, closed 58.70 points lower at 11,512.50, a decrease of 0.51 percent.
Meanwhile, the rupee recovered from early lows to trade higher against the US currency in afternoon session following more than 1 percent drop in crude oil prices in global markets, PTI reported.
The domestic currency was trading up by 10 paise at 70.78 at around 1:25 pm against the dollar which otherwise was ruling high in overseas markets.
The rupee opened lower and fell further to 70.93 as the US currency rose to multi-weeks high against the major currencies like euro.
Earlier during the day, Sensex and Nifty started on a volatile note, tracking weak cues from global markets as concerns over US political uncertainty kept investors on edge.
After dropping 175 points in early session, the 30-share index pared all losses to trade 38.89 points, or 0.28 percent higher at 38,879.19 at around 9:35 am, while the broader Nifty advanced 5.85 points, or 0.10 percent, to 11,577.05.
(Wit inputs from PTI)
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