Sensex down 61 pts, Rupee down 8 paise in early trade
The benchmark BSE Sensex fell over 61 points in early trade today on selling by funds and retail investors ahead of monthly expiry
Mumbai: The benchmark BSE Sensex fell over 61 points in early trade today on selling by funds and retail investors ahead of monthly expiry in the derivatives segment amidst lower-than expected corporate earnings by some firms.
The 30-share barometer, which had lost 280.62 points in the previous two sessions, moved down by another 61.40 points, or 0.29 per cent, to 25,929.83 with capital goods, realty, metal and healthcare stocks leading the fall.
Also, the National Stock Exchange index Nifty shed 18.60 points, or 0.24 per cent, to 7,730.10.
Brokers said offloading of positions by foreign funds and retail investors in view of tomorrow’s monthly expiry in the derivatives segment influenced the trading sentiment.
They said lower-than-expected quarterly earnings by some companies including Larsen and Toubro also dampened the sentiment.
Stock of Larsen and Toubro plunged 7.98 per cent to Rs 1,513.45 after the company’s quarterly earnings did not meet market expectations.
Among other Asian markets, Japan’s Nikkei rose 0.27 per cent, while Hong Kong’s Hang Seng was trading 0.75 per cent higher in early trade.
The US Dow Jones Industrial Average ended 0.42 per cent down in yesterday’s trade.
Rupee down 8 paise against dollar in early trade
The rupee depreciated by 8 paise to 60.21 against the US dollar in early trade today, extending losses for the fourth day at the Interbank Foreign Exchange market due to month-end demand for the American currency from importers.
The dollar’s gains against other currencies overseas and a lower opening in the domestic equity market also put pressure on the local unit, forex dealers said.
The rupee had weakened by 3 paise to end at nearly a one-week low of 60.13 against the dollar on Monday. Forex market remained closed yesterday on account of “Id-ul-Fitr”.
Meanwhile, the benchmark BSE Sensex fell 61.40 points, or 0.29 per cent, to 25,929.83 in early trade today.