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Sensex down 54 points, rupee down 18 paise in early trade

BSE

BSE Sensex fell over 54 points where rupee weakened by 18 paise to 61.93 against the US dollar in early trade today

SensexMumbai: The benchmark BSE Sensex fell over 54 points in early trade today as funds and retail investors booked profits after five-sessions of gains amid a subdued economic growth data for the December quarter.

Besides, a weakening trend in the Asian region also weighed on the trading sentiments here.

Snapping its five-day long winning streak, the 30-share barometer fell by 54.16 points, or 0.26 per cent, to 21,065.96, mainly due to weakness in PSUs, banking, realty capital goods, auto and metal sector stocks.

Similarly, the National Stock Exchange index Nifty moved down by 14.95 points, or 0.24 per cent, to 6,262.00.

Brokers said besides profit-booking by speculators after recent gains, subdued economic growth data for the December quarter and a weak trend in the Asian markets amid rising tensions over Ukraine, dampened the trading sentiments.

Also, the Indian economy grew below expectations at 4.7 per cent in the October-December quarter.

Besides, decline in February sales posted by auto makers, including Maruti Suzuki, Tata Motors and M&M was another negative factor, brokers added.

Among other Asian markets, Nikkei was trading 1.75 per cent lower while Hong Kong’s Hang Seng index shed 0.71 per cent in early trade today.

Rupee down 18 paise against dollar in early trade

The rupee weakened by 18 paise to 61.93 against the US dollar in early trade today at the Interbank Foreign Exchange market due to appreciation of the American currency overseas.

Increased demand for the dollar from importers also put pressure on the rupee.

Dealers attributed the fall in rupee to dollar’s gains against euro overseas and a lower opening of the domestic equity market.

The rupee had gained 23 paise to close at an over five-week closing high of 61.75 against the US dollar in its previous trading session on selling of the American currency by exporters and positive cues from local equities.

Meanwhile, the benchmark BSE Sensex fell by 54.16 points, or 0.26 per cent, to 21,065.96 in early trade today.

PTI

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