Gaining streak halted on BSE

Sensex closes lower despite falling food prices

The Bombay Stock Exchange benchmark index, Sensex, on Thursday declined by 45 points as investors booked profits, snapping a three-day gaining streak despite positive cues like falling food prices and RIL's acquisition of a shale gas asset in the U.S. The BSE 30-share barometer initially hit a fresh 30-month high of 18295.43 intra-day. However, it was unable to sustain the gains and settled down 44.61 points at 18172.83. The National Stock Exchange's wide-based Nifty-50 also ended 0.38 per cent lower at 5447.10.

Analysts said investors felt that the recent rally had outpaced the outlook for earnings growth, sparking profit-booking in the last hour of trade, notwithstanding positive factors such as the fall in food inflation and progressing monsoon.

Rupee ends lower

The rupee on Thursday softened by three paise to 46.19/20 against the U.S. dollar in lacklustre trading at the interbank foreign exchange market.

It opened lower at 46.21/22 against its previous close of 46.16/17 and dropped further to a low of 46.30 during intra-day. However, sustained capital inflows amid late dollar selling by exporters helped the rupee recover most of its early losses.

It touched a high of 46.14 before ending slightly lower at 46.19/20. — PTI

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