Sensex down 86 points, rupee down 41 paise in early trade
BSE benchmark Sensex today fell over 86 points where rupee fell by 41 paise to 61.36 against the dollar in early trade
The 30-share barometer fell by 86.44 points, or 0.39 per cent, to 21,746.42 with stocks of banking, PSUs, capital goods, power, oil and gas and realty sectors leading the fall. The index had gained 58.25 points in the previous three sessions.
Similarly, the wide-based National Stock Exchange index, Nifty dipped below 6,500 level by falling 26.15 points, or 0.40 per cent, to 6,497.90.
Brokers said the sentiment turned weak on funds selling amid profit-booking by retail investors in line with falling trend on the other Asian markets after the US Federal Reserve hinted that the central bank could hike interest rates earlier than expected.
In the Asian region, Japan’s Nikkei was down by 0.52 per cent, while Hong Kong’s Hang Seng shed 0.87 per cent in early trade.
The US Dow Jones Industrial Average ended 0.70 per cent lower in yesterday’s trade.
Rupee down 41 paise Vs dollar in early trade
The rupee today fell by 41 paise to 61.36 against the dollar in early trade due to increased demand for the US currency from banks and importers amid a weak opening in local equities.
Dealers said besides increased demand for the American currency from importers, dollar’s strength against other currencies overseas after the US Federal Reserve hinted that the central bank could hike interest rates earlier than expected, mainly put pressure on the local unit.
The rupee had gained 24 paise to close at nearly one-week high of 60.95 against the dollar yesterday following selling of the US currency by exporters and some banks, amid sustained heavy capital inflows.
Meanwhile, the BSE benchmark Sensex fell by 86.44 points, or 0.39 per cent, to 21,746.42 in early trade today.