Rupee could extend its losses on account of a soaring US dollar overseas, although some recovery is expected after the sharp decline. The domestic currency pared some of its losses in late trades yesterday to end at Rs 62.77 against the greenback after having dropped to a low of 62.81 intraday, its lowest level since early this year.
Local indices edged lower amid high volatility during the latter part of the trading session. The barometer index, the S&P BSE Sensex, hit its lowest closing level in almost four weeks. The 50-unit CNX Nifty hit its lowest closing level in almost two weeks. The market breadth indicating the overall health of the market was negative. The Sensex fell 134.91 points or 0.47% to settle at 28,709.87.