Sensex down 47 points in early trade; Rupee falls 12 paise to US dollar

US President Donald Trump's new tariffs on Chinese imports deadline also affected investors' sentiment world over, brokers said.

By: PTI | Mumbai | Updated: July 5, 2018 11:02:58 am
Rupee slips 13 paise The 30-share index dropped 47.34 points or 0.13 per cent to 35,598.06. The gauge had gained 380.99 points in the previous two sessions. (Express photo by Ganesh Shirsekar/Files)

The BSE Sensex slipped over 47 points to 35,598.06 in early trade on Thursday, following intense selling pressure in consumer durables, metal and realty stocks amid sustained capital outflows by foreign funds.

A depreciating rupee against the dollar also dampened the sentiment.

Asian markets were trading lower as investors look for direction amid growing global trade war tensions. Wall Street closed for a public holiday.

US President Donald Trump’s new tariffs on Chinese imports deadline also affected investors’ sentiment world over, brokers said.

The 30-share index dropped 47.34 points or 0.13 per cent to 35,598.06. The gauge had gained 380.99 points in the previous two sessions.

Similarly, the NSE Nifty fell 13.55 points or 0.12 per cent to 10,756.35. Sectoral indices led by consumer durables, metal, realty, teck, capital goods, healthcare and IT were trading in the negative zone, falling up to 1.29 per cent.

Major losers were Tata Motors, Vedanta, Tata Steel, Bharti Airtel, Infosys, HDFC Ltd, Wipro, Asian Paints, Sun Pharma, L&T, Power Grid, HDFC Bank, Adani Ports, NTPC and SBI, falling up to 3.37 per cent. Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 284.58 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 611.01 crore as per provisional data.

In the Asian region, Japan’s Nikkei fell 0.36 per cent and Hong Kong’s Hang Seng shed 0.66 per cent in early trade. China’s Shanghai Composite index too was down 0.53 per cent.

Rupee falls 12 paise to 68.86 against US dollar

The rupee declined 12 paise to 68.86 against the US dollar in early trade on Thursday, pressured by a lower opening in the domestic stock market.

Increased demand for the American currency from importers and banks amid persistent foreign fund outflows also weighed on the rupee.

Foreign portfolio investors (FPIs) sold shares worth Rs 284.58 crore yesterday, as per provisional data.

Forex dealers said the rise of euro and yen against the greenback capped the rupee’s fall.

On Wednesday, the rupee had lost 17 paise at 68.74 against the dollar amid rising crude oil prices and inflationary concerns after MSP hike for Kharif crops by the government.

 

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