Benchmark BSE Sensex fell about 51 points in early trade today on profit-booking in consumer durables, IT, metal and banking stocks amid weak Asian cues as investors turned cautious ahead of key policy meetings of the Federal Reserve and Japanese central bank.
The 30-share index fell 50.70 points or 0.17 per cent to 28,583.80. The gauge had gained 280.96 points in the previous four sessions.
The NSE Nifty broke below the 8,800-mark falling 23.90 points, or 0.27 per cent, to 8,784.50.
Equity brokers said that besides trimming of positions in recent gainers by participants at existing levels, weak trend in other Asian markets dampened sentiments here as investors awaited upcoming US and Japanese central bank meetings.
Among other Asian markets, Japan’s Nikkei was down 0.70 per cent while Shanghai Composite Index shed 0.30 per cent in morning trade today. Hong Kong’s Hang Seng too fell 0.15 per cent.
The US Dow Jones ended 0.02 per cent lower in yesterday’s trade.
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The rupee weakened by 2 paise to 66.98 against the dollar in early trade at the Interbank Foreign Exchange market today on fresh demand for the American currency from importers.
Forex dealers said the strength in dollar against some currencies overseas and weakness in domestic equities in the opening trade also weighed on the rupee.
The rupee had settled almost flat at 66.96 against the American currency in a highly volatile trade yesterday, ahead of a crucial US Fed meeting.
The benchmark BSE Sensex fell by 50.70 points, or 0.17 per cent, to 28,583.80 in early trade today.