As rupee remains weak

The S&P BSE benchmark Sensex on Tuesday trimmed early losses on some buying after the index slipped below 18,000-level but still closed 61 points down, extending the downtrend to the third day, as the rupee remained weak.

The 30-share index slumped to 17970.98, down nearly 337 points, after rupee breached the 64-level against dollar, However, buying by funds in beaten down shares helped the Sensex end at 18,246.04, down 61.48 points or 0.34 per cent.

In three days, the index has lost over 1,100 points.

On similar lines, the National Stock Exchange index Nifty ended 13.30 points, or 0.25 per cent, lower at 5,401.45, after dipping to 5,306.35. Also, SX40 index, the flagship index of MCX-SX, closed at 10829.76 with a loss of 52 points.

The fag-end buying in banking, realty and metal sector stocks helped the market to minimise losses, where as rupee falling to record low levels and weakening global markets continued to influence the trading sentiment, said brokers.

The rupee hit yet another all-time low of 64.11/12 per dollar in intra-day trade.

In Sensex components, 16 stocks declined while 14 stocks ended with gains. The consumer durable sector index suffered the most by falling 3.54 per cent to 5,568.05, followed by auto sector index by 2.26 per cent to 10,055.58, among others.

Market sentiment was further hurt on weakening Asia and lower opening in Europe on speculation that the US Federal Reserve will soon start to scale back stimulus programme.

Emerging-market stocks fell the most in six weeks as Indonesia’s record current-account gap and Thailand’s recession heightened fears that capital outflows will rise.

Keywords: sensexrupee fall

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