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Sensex down 62 points, rupee down 3 paise in early trade

BSE

BSE Sensex fell over 62 points where  rupee fell marginally by 3 paise to 62.15 against the US dollar in early trade today

SensexMumbai: The benchmark BSE Sensex fell over 62 points in early trade today due to profit-booking by funds and retail investors after previous session gains amid a weak trend in other Asian markets.

The 30-share index, which had ended 164.11 points higher on Friday, slipped by 62.09 points, or 0.30 per cent, to 20,638.66 in early trade, with stocks of PSUs, banking, metal and IT sectors leading the fall.

Also, the National Stock Exchange index Nifty shed 13.25 points, or 0.22 per cent, to 6,142.20.

Brokers said besides a weak trend in the Asian region, profit-booking by participants influenced the trading sentiment here.

Bucking the trend, power sector stocks such as Tata Power and Adani Power were trading in the positive zone with gains up to 5.21 per cent after reports that the electricity regulator allowed these companies to raise tariffs. Reliance Power was also trading 1.43 per cent higher.

Meanwhile, among other Asian markets, Hong Kong’s Hang Seng index declined 0.42 per cent while Japan’s Nikkei fell 0.45 per cent.

The US Dow Jones Industrial Average ended 0.19 per cent lower in Friday’s trade.

Rupee down 3 paise Vs dollar in early trade

The rupee fell marginally by 3 paise to 62.15 against the US dollar in early trade today at the Interbank Foreign Exchange market due to increased demand for the US currency from importers.

Forex dealers said besides dollar’s gains against other currencies overseas, increased demand from importers for the American currency and a lower opening in the domestic equity market also put pressure on the rupee.

The rupee had gained 11 paise to close at 62.12 against the US dollar in the previous session on Friday on selling of the American currency by banks and exporters amid foreign capital inflows fuelling a rebound in shares.

Meanwhile, the BSE benchmark Sensex fell by 62.09 points, or 0.30 per cent, to 20,638.66 in early trade today.

PTI

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