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Sensex down 33 points, Rupee down 19 paise in early trade

Sensex

The benchmark BSE Sensex declined by over 33 points in early trade today as participants indulged in reducing their positions
Sensex Mumbai: The benchmark BSE Sensex declined by over 33 points in early trade today as participants indulged in reducing their positions ahead of monthly expiry in the derivatives segment.

The 30-share barometer, which had gained 96.19 points in yesterday’s trade, slipped by 33.59 points, or 0.13 per cent, to 26,053.83 with IT, banking, realty, teck and power stocks leading the fall.

On similar lines, the National Stock Exchange index Nifty fell by 14.25 points, or 0.18 per cent, to 7,777.15.

Brokers said offloading of positions by foreign funds and retail investors on the last session of July month’s expiry in the derivatives segment influenced the trading sentiment but a firming trend on other Asian markets capped the losses.

They said cautious approach adopted by participants before the quarterly earnings from Maruti Suzuki and ICICI Bank also weighed on the sentiment.

ICICI Bank fell 0.11 per cent to Rs 1487.85 in early trade ahead of quarterly earnings.

Despite reporting a robust June quarter earnings, HCL Technologies shares fell 1.27 per cent to Rs 1,577 in the morning trade.

Among other Asian markets, Japan’s Nikkei rose 0.55 per cent, while Hong Kong’s Hang Seng was trading 0.30 per cent higher in early trade.

The US Dow Jones Industrial Average ended 0.19 per cent down in yesterday’s trade.

Rupee down 19 paise against dollar in early trade

The rupee lost 19 paise to 60.25 against the US dollar in early trade on the Interbank Foreign Exchange market due to appreciation of the US currency overseas.

Forex dealers said apart from month-end demand for the American currency from importers, dollar’s gains against other currencies overseas amid US data showing more-than-expected economic growth in the second quarter also put pressure on the local unit.

They said a lower opening in the domestic equity market also weighed on the rupee.

The domestic currency had gained 7 paise to close at over two-week high of 60.06 against the dollar yesterday in line with the recovery in local equities.

Meanwhile, the benchmark BSE Sensex was down 33.59 points, or 0.13 per cent, to 26,053.83 in early trade today.

PTI

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