Rupee ended the day losing 35 paise or 0.5% in trade at 70.01 against the dollar. This is despite BJP winning in election results today.
Rupee is said to have a direct correlation with election. In the run upto elections, the rupee has appreciated from levels of 70.29 to 69.45 in opening trade. Nonetheless,as now the picture is very much clear, with Modi set for the second term, rupee is likely to perform better going forward.
Meanwhile, the stock indices also ended lower, after breaching a historic 40,000 mark on the Sensex. Nifty ended the day lower by some 150 odd points and Sensex was also dragged lower by 300 points after having rallied 1000 points in trade today.