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Sensex dips below 20k level, rupee down 24 paise in early trade

BSE

BSE Sensex today dipped below psychological 20,000-level by falling nearly 233 points where rupee fell by 24 paise to 62.80 against the US currency in early trade today 

SensexMumbai: The benchmark BSE Sensex today dipped below psychological 20,000-level by falling nearly 233 points in opening trade following weak global trends after disappointing US factory data.

The 30-share barometer fell by 232.88 points, or 1.15 per cent, to trade below 20,000-level at 19,976.38. The index had lost 304.59 points in the previous session.

All the sectoral indices led by realty, IT and metal were major losers, dragging down the benchmark Sensex.

The wide-based National Stock Exchange index Nifty dipped below 6,000-mark by falling 59.80 points, or 1.00 per cent, to 5,942.00.

Brokers said sustained selling by funds in the absence of any positive factor and a slump in other Asian bourses following overnight losses on the US market on disappointing manufacturing data mainly dampened the trading sentiment here.

In the Asian region, Hong Kong’s Hang Seng index plunged 2.31 per cent, while Japan’s Nikkei Index fell 2.62 per cent, in early trade.

The US Dow Jones Industrial Average ended 2.08 per cent down in yesterday’s trade.

Rupee down 24 paise against dollar in early trade

The rupee fell by 24 paise to 62.80 against the US currency in early trade today on the Interbank Foreign Exchange market, weighed down by dollar’s gains against other currencies overseas.

Forex dealers said besides dollar’s gain against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.

The domestic currency had gained 12 paise to close at 62.56 against the US dollar in yesterday’s trade on fag-end sales of the US currency.

Meanwhile, the benchmark BSE Sensex dipped below 20,000 level for the first time this year by falling 232.88 points, or 1.15 per cent, to 19,976.38 in the opening trade today.

PTI

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