Sensex losses mount as rupee hit 4-month low

The BSE Sensex slumped about 232

points to 32,138.25 points in early trade today on heavy

selling in banking, financial, capital goods and FMCG stocks

amid sustained foreign fund outflows and weak global cues.

The rupee falling to a four-month low in early trade on

heavy capital outflows over expectation of rate hike by the US

Federal Reserve came as a dampener to the market sentiment.

The BSE 30-share barometer tanked 231.79 points, or 0.72

per cent, to 32,138.25. The gauge had lost 53.72 in the

previous three sessions.

All sectoral indices led by metal, bankex, PSU and realty

were trading in the negative terrain, falling by up to 1.56 pr

cent.

Also, the NSE Nifty was trading down by 96.70 points, or

0.95 per cent, at 10,025.20.

Weak Asian cues after China's sovereign rating was

downgraded by agency on fears over its ballooning debt and

sustained foreign fund outflows, too negatively impacted

sentiments, they added.

The rupee fell 31 paise to 65.12 against the dollar, its

lowest level since May 23 in early trade at forex market.

The laggards were ICICI Bank, Tata Steel, Coal India,

Axis Bank, Bajaj Auto, L&T, SBI, ONGC, Reliance Industries,

Hero MotoCorp, TCS, Infosys and NTPC, falling by up to 2.09

per cent.

In the Asian region, Hong Kong's Hang Seng fell 0.78 per

cent, Japan's Nikkei shed 0.29 per cent, while Shanghai

Composite Index down 0.59 per cent in their late morning

deals.

The US Dow Jones Industrial Average ended 0.24 per cent

lower yesterday.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)