A sharp slide in Asian stocks and renewed fears of capital outflows wiped out March 28 gains in rupee, which fell 22 paise at 40.11/12 against dollar on March 31 with heavy buying of the US currency by oil refiners. Indian equity markets closed 726.85 points down at 15,644.44, following weak global cues as well as the announcement of a new accounting norm for companies. In wide movements at the Interbank Foreign Exchange (Forex) market, the domestic unit fluctuated in a range of 39.84 and 40.15 during the day after resuming at 39.85/86 a dollar from Friday''s close of 39.89/90 a dollar.
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