Markets opened on a bearish note Monday to end the session lower for the eight straight day on rising debt concerns in the US and Europe and a weakening rupee. The Sensex and the Nifty both ended down 2.6% each.The bearish trend continued to haunt the markets on Wednesday with the Sensex closing at a 2-year low of 15,700, the lowest closing since November 3, 2009, when the benchmark had ended at 15,405.
The Indian rupee continued to remain weak and tumbled to its all-time low of Rs 52.73 to the dollar on Tuesday as investors moved to the safety of the US dollar and sustained demand for the greenback from oil marketing companies. The currency has depreciated over 14% against the dollar this year.
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