Stock Market: Sensex falls 300 points, Nifty settles above 16,300

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Domestic share markets opened with losses today as bears continued to dominate. S&P BSE Sensex was up from lows but was still trading in red. Sensex was down 300 points or 0.58 percent at 54,526 points while NSE Nifty 50 fell 85 points or 0.52 percent to sit above 16,300.

In the forex market, Indian Rupee recorded an all-time low of 77 rupees and 42 paise against the US dollar in today’s early trade. The rupee opened at 77.17 against the dollar, then lost ground to quote at 77.42, registering a fall of 52 paise from the last close, and slipping past the previous all-time low of 76.98 touched in March.