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Sensex down 16 points; rupee up 13 paise in early trade

BSE

BSE Sensex opened weak for the sixth straight day by falling 16 points where rupee strengthened by 13 paise to trade at 60.03 against the dollar today

SensexMumbai: The benchmark BSE Sensex opened weak for the sixth straight day by falling 16 points in early trade today as cautious participants engaged in booking profits amid a weakening trend overseas.

The 30-share barometer fell by 16.00 points, or 0.07 per cent, to 22,387.89 with stocks of auto, banking, metal and PSU sectors remaining under pressure. The index had lost almost 472 points in the previous five sessions.

Similarly, the National Stock Exchange index Nifty moved down by 4.00 points, or 0.06 per cent, to 6,690.80.

Brokers said sustained selling by participants, mostly of a profit-booking nature ahead of the outcome of the ongoing Lok Sabha elections and a weak trend at other Asian markets after China manufacturing weakened further in April, influenced the trading sentiments here.

Meanwhile in Asia, Hong Kong’s Hang Seng was down 0.29 per cent in early trade today, while Japan’s financial markets are closed for a public holiday.

The US Industrial Average ended 0.28 per lower in the previous session.

Rupee up 13 paise against dollar in early trade

The rupee strengthened by 13 paise to trade at 60.03 against the dollar today, extending its rising streak for the fourth straight day, at the Interbank Foreign Exchange market on sustained selling of the US currency by exporters.

The local currency had appreciated by 15 paise to close at three-week high of 60.16 per dollar on Friday, following sustained selling of the US currency by exporters amid capital inflows.

Dealers said besides persistent dollar selling by exporters, gains in other currencies against the American currency overseas supported the rupee but a lower opening in the domestic equity market, capped the gains.

Meanwhile, the BSE benchmark index Sensex fell by 16.00 points, or 0.07 per cent, to 22,387.89 in early trade.

PTI

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