Sensex drops over 150 points; Rupee slips 9 paisehttps://indianexpress.com/article/business/market/sensex-drops-over-150-points-rupee-slips-9-paise/

Sensex drops over 150 points; Rupee slips 9 paise

Top losers in the Sensex pack in early trade included Vedanta, Tata Steel, RIL, Coal India, Axis Bank, Hero MotoCorp, Tata Motors, and Kotak Bank, shedding up to 2 percent.

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The 30-share index was trading 175.29 points, or 0.44 percent, lower at 39,276.78 at 0930 hours. Similarly, the broader NSE Nifty was quoting 50.20 points, or 0.42 percent, down at 11,773.10. (File)

Domestic equity benchmark BSE Sensex fell over 150 points and the NSE Nifty slipped below the 11,800 marks in early trade Monday tracking dragged down by losses in index heavyweight RIL, ITC, and HDFC stocks.

The 30-share index was trading 175.29 points, or 0.44 percent, lower at 39,276.78 at 0930 hours. Similarly, the broader NSE Nifty was quoting 50.20 points, or 0.42 percent, down at 11,773.10.

In the previous session on Friday, the BSE gauge settled 289.29 points, or 0.73 percent, lower at 39,452.07, and the broader NSE Nifty tumbled 90.75 points, or 0.76 percent, to close at 11,823.30.

Top losers in the Sensex pack in early trade included Vedanta, Tata Steel, RIL, Coal India, Axis Bank, Hero MotoCorp, Tata Motors, and Kotak Bank, shedding up to 2 percent.

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On the other hand, Yes Bank, Infosys, PowerGrid, NTPC, and TCS rose up to 1 percent. “Current formation of the market is indicating that major participants of the market are turning cautious ahead of the major outcome of Fed’s decision, which is due on 19th June 2019,” said Ashish Nanda EVP & Business Head – PCG, Commodities and Currency Business, Kotak Securities.

US indices are trading at resistance levels, which is an indication of weakness to persist. Elsewhere in Asia, while Shanghai Composite Index, Hang Seng, Nikkei, and Kospi were trading on a mixed note in their respective early sessions.

Meanwhile, foreign institutional investors sold equity worth Rs 238.64 crore, while domestic institutional investors bought shares to the tune of Rs 376.47 crore, provisional data available with stock exchanges showed on Friday.

Rupee slips 9 paise to 69.89 vs USD in early trade

The rupee had settled at 69.80 against the US dollar Friday.(File)

The rupee depreciated by 9 paise to 69.89 against the US dollar in early trade Monday on weak opening in domestic equities and rising crude oil prices.

The rupee opened weak at 69.87 at the interbank forex market and then fell further to 69.89, down 9 paise over its last close.The local currency however pared the initial loss and was trading at 69.85 at 0951 hrs.

The rupee had settled at 69.80 against the US dollar Friday. Forex traders said rising crude oil prices, foreign fund outflows and heavy selling in domestic equities kept pressure on the Indian rupee.

Brent crude futures, the global oil benchmark, rose 0.29 per cent to USD 62.19 per barrel.Meanwhile, foreign institutional investors (FIIs) pulled out Rs 238.64 crore on a net basis Friday, provisional data showed.