Sensex down 120 pts in early trade on weak rupee,global cues

The 30-share barometer fell by 120 points,or 0.64 per cent,to 18,613.22.

Written by PTI | Mumbai | Published: August 7, 2013 10:07 am

The BSE benchmark Sensex today fell by 120 points in early trade,extending yesterday’s losses,due to increased selling by funds on weakening rupee amid a subdued trend in other Asian markets on indications of a possible tapering of US stimulus.

The 30-share barometer fell by 120 points,or 0.64 per cent,to 18,613.22.

The index had lost 449.22 points in the previous sessions. Stocks of FMCG,metal,auto and capital goods sectors were major losers,pulling down the benchmark Sensex.

The wide-based National Stock Exchange index,Nifty moved down by 39.70 points,or 0.72 per cent,to 5,502.55. Brokers said selling by funds and other participants triggered by a falling rupee and a weakening trend on the other Asian bourses on indications of a possible tapering of US stimulus,mainly dampened the trading sentiment here.

In the Asian region,Hong Kong’s Hang Seng index traded lower by 0.76 per cent,Japan’s Nikkei Index fell 1.70 per cent,in early trade on . The US Dow Jones Industrial Average ended 0.60 per cent lower in yesterday’s trade.

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