In the previous session the local unit settled almost flat at 75.
On the domestic front, broad-based sell off was witnessed as investors dumped covid-sensitive stocks while focus was shifted towards the pharma sector amid growing concerns over the new variant with higher mutations.
The 30-share index tanked 482.
Free-float Methodology makes the index more broad-based by reducing the concentration of top few companies in Index.
The downside breakout of the crucial supports and the overall negative chart pattern as per daily and weekly timeframe indicate resumption of sharp down trend in the market.
On the index front, a decisive close above 17,500 in Nifty would help the bulls to regain some strength else sideways to negative bias will continue, with crucial support around the 16,800-17,000 zone.