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Rupee down 13 paise, Sensex down 78 points in early trade

rupee vs dollor

Rupee depreciated by 13 paise to 60.29 against the US dollar in early trade today

rupee vs dollorMumbai: The rupee depreciated by 13 paise to 60.29 against the US dollar in early trade today at the Interbank Foreign Exchange market due to increased demand for the American currency from importers.

Euro’s weakness against the US dollar overseas and lower opening in the domestic equity market also put pressure on the local unit, forex dealers said.

The rupee had lost 26 paise to close at 60.16 against the dollar yesterday on fresh dollar demand from banks and importers in view of the US currency gaining overseas and weakness in local equities.

Meanwhile, the benchmark BSE Sensex fell by 78.67 points, or 0.35 per cent, to trade at 22,430.40.

Sensex down 78 pts on profit-booking, global cues

Extending yesterday’s fall, the benchmark BSE Sensex dropped further by over 78 points in the opening trade today as funds and retail investors indulged in profit-booking amid a weakening trend in global markets.

Stocks of PSUs, oil and gas, banking and capital goods sector led the fall.

The 30-share Sensex fell by 78.67 points, or 0.35 per cent, to trade at 22,430.40. It had lost 42.42 points in yesterday’s trade after soaring to new intra-day lifetime high of 22,620.65.

The 50-share NSE Nifty, which fell by 16.45 points in yesterday’s trade, fell by another 23.85 points, or 0.35 per cent, to 6,712.25.

Besides increased profit-booking at prevailing record levels by participants, a weakening trend in the Asian region, following overnight losses in the US markets as investors awaited a key jobs report also dampened the trading sentiment, brokers said.

Among other Asian markets, Hong Kong’s Hang Seng fell by 0.39 per cent, while Japan’s Nikkei shed 0.44 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.45 points lower in yesterday’s trade.

PTI

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