Drop in Rupee Beneficial for IT Sector & Short Term Have Good Returns

Companies like TCS, HCL, Infosys and SunPharma earns in Dollar from foreign countries and drop in Indian Rupee is befitting these companies. In last 20 days, Sensex has been broken down by 8.5% and there is no possibilities to recover it soon. In such conditions, investment for short term can give better returns. Fall in Rupee would also be beneficial for the Export companies and commodities.

Rupee under Pressure, Sensex Nifty Broke Down

Rupee is going through a high pressure after dropping to the lowest of last 28 months. With the loss of 27 paise against the Dollar, Rupee touched the level of 67.50 today. 

After a nice opening in the morning, stock market broke down all of a sudden during the after noon. Sensex is at 24480.34, after dropping by 292.63 points and Nifty is at 7441.15 after losing 95.65 points. Realty Sector is facing the loss of 1.40%, Auto Sector is having loss of 0.5%, IT Sector having gain of 0.57% and NSE Energy Sector rose up by 0.68%.