Market Update: Meesho Falls, Rupee Hits Record Low

Key Developments • Meesho hit the 10% lower circuit after receiving a ₹1,500 crore income tax demand notice. The company has indicated it will contest the demand legally. • The Indian Rupee weakened to a record low of ₹92.35 against the US Dollar, reflecting pressure from global currency movements and risk-off sentiment. • Market breadth remained weak with the NSE advance–decline ratio at 1:6, indicating that significantly more stocks declined than advanced. What It Signals Weak market breadth combined with currency pressure often reflects broader risk-off sentiment in equities. Such conditions typically lead to higher volatility and cautious investor participation. Learning Outcome Market breadth indicators like the advance–decline ratio help investors understand overall market sentiment beyond index movements.