The BSE benchmark index Sensex on Wednesday declined by over 113 points in early trade as funds and retail investors booked profits after two sessions of gains amid weakness in the rupee, breaching the Rs. 56 level against dollar.
Also, subdued trends on the other Asian bourses also dampened the trading sentiments here.
The 30-share index, which had gained over 220 points in the past two sessions, fell by 113.55 points, or 0.69 per cent, to 16,325.03, with stocks of auto, banking and consumer durable sectors succumbing to profit-booking.
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Similarly, the wide-based National Stock Exchange index Nifty shed 32.20 points, or 0.65 per cent, to 4,957.90.
Brokers said besides profit-booking by speculators after recent gains, weakness in the rupee, which again breached Rs. 56 level against the U.S. dollar also cast its shadow on the trading sentiments, triggering selling.
A weakening trend on the other Asian bourses and tomorrow’s expiry in the derivatives segment also attributed fall in stock prices, they said.
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Shares of Tata Motors plunged 8.16 per cent to Rs. 253.40 despite the company’s Q4 consolidated net profits soared over two-fold to Rs. 6,234 crore.
In the Asian region, Hong Kong’s Hang Seng index fell 1.50 per cent, while Japan’s Nikkei Index shed 0.98 per cent in the morning trade.