Nifty’s worst week in over a year: what slammed India’s NSE stocks and the rupee
Nifty 50 and Sensex each fell 2.9% for the week ended March 6, their sharpest drop in over a year, as surging oil prices hit sentiment. The rupee slid past 92 per dollar to a record low before the Reserve Bank of India intervened, with bankers estimating $12 billion deployed to steady the currency. State-run banks led sector declines, dropping about 6.5%.