Siddhartha Khemka, Head вЂ“ Retail Research, Motilal Oswal Financial Services, said: вЂњInvestors would look forward to upcoming Fed meeting scheduled on June 14 and 15. The Indian currency began the day 30 paise lower at 78.14 per US dollar on Monday against the close of 77.84 on Friday. Indian rupee plunged to an all-time low on Monday.

Rupee Breaches 78 per US Dollar for First Time The rise in yield comes amid crude prices in the vicinity of $120 per barrel and inflationary concerns. The yield on the 10-year bond rises 8bps to 7.59 per cent, at the open. Anchor investors, who bought over 59 million shares, can sell their shares in the open market from Monday. Shares of Life Insurance Corporation of India (LIC) hit fresh record low of Rs 682 on the BSE in opening deals as the 30-day lock-in period for anchor investors end today. Most analysts downgraded the stock, noting that the appointment raises more questions than answers, as the veteran banker was previously involved in turning around weak asset quality. RBL Bank stocks slid 15 per cent in early trade after the private bank announced the appointment of veteran banker R Subramaniakumar as its new managing director and chief executive officer.В The appointment comes after the former MD and CEO of RBL Bank unexpectedly stepped down, after which RBI appointed a nominee director on the board of the bank. That apart, India will release retail inflation figures for May on Monday, June 13.ДЄt 10:19 am, the S&P BSE Sensex slumped over 1,700 points as it slipped below the 53,000 level and the Nifty50 shed 500 points to move below 15,700, the first time since March 8.Д¬ipla, Sun Pharma, SBI Life Insurance and Power Grid Corporation were among major gainers on the Nifty, while losers were Kotak Mahindra Bank, HDFC, L&T, Hindalco Industries and Infosys. With the sharp rise in US inflation that beat street expectations, all eyes will be on the US Federal Open Market Committee (FOMC) meeting scheduled on Wednesday, June 15, as investors fear aggressive rate hikes on the anvil. Stock Market on Monday:В The markets opened on a negative note on Monday due to somber mood overseas after US inflation jumped to a new 40-year high of 8.6 per cent in May.

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