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Sensex down by 47 points, rupee down 13 paise in early trade

BSE

BSE benchmark index Sensex today retreated from record by losing almost 47 points where rupee today weakened by 13 paise to trade at 58.76 in early trade

SensexMumbai: The BSE benchmark index Sensex today retreated from record by losing almost 47 points in early trade on profit-booking by speculators in oil and gas, PSUs and banking stocks, amid a weak trend in the global markets.

The 30-share barometer, which had gained over 562 points in the past four sessions after the BJP-led NDA swept the polls, shed 46.88 points, or 0.19 per cent, to 24,330.00.

On similar lines, the broad-based National Stock Exchange index Nifty fell by 12.80 points, or 0.18 per cent, to 7,262.70.

Brokers said besides booking of profits by participants amid pause in buying by funds at prevailing record levels, snapped four-session winning streak, which took key indices to historic highs.

The BSE Sensex and NSE Nifty climbed to a lifetime high of 25,375.63 and 7,563.50 on May 16.

Besides, a weakening trend on Asian bourses following overnight losses on the US market, influenced the sentiment, they said.

In the Asian region, Hong Kong’s Hang Seng index fell by 0.52 per cent, while Japan’s Nikkei Index edged lower by 0.75 per cent. The US Dow Jones Industrial Average ended 0.83 per cent lower yesterday.

Rupee down 13 paise Vs dollar in early trade

The rupee today weakened by 13 paise to trade at 58.76 in early trade at the Interbank Foreign Exchange market due to increased dollar demand from importers.

A lower opening at the domestic equity market due to profit-booking, and dollar’s gain against euro overseas also put pressure on the rupee, traders said.

The rupee had retreated four paise from its 11-month high levels to close at 58.63 against the dollar yesterday on fresh demand for the US currency from importers, amid some profit- booking in stocks.

Meanwhile, the BSE benchmark Sensex fell by 46.88 points, or 0.19 per cent, at 24,330.00.

PTI

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