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BSE Sensex falls 44 points in early trade; Rupee at 66.31

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Mumbai :The benchmark BSE Sensex fell about 44 points in early trade today as stocks of IT, technology, FMCG and metal companies succumbed to profit-booking after recent gains amid weak Asian cues.

The 30-share index declined by 43.64 points, or 0.17 per cent, to 25,692.26. In the previous session, the gauge gained 216.68 points.

Similarly, the NSE Nifty edged down by 12.75 points, or 0.16 per cent, to 7,821.70.

Brokers said emergence of profit-booking in select blue-chips after recent gains and a weak trend at other Asian bourses mainly dampened sentiment.

Among other Asian bourses, Hong Kong’s Hang Seng was down by 0.14 per cent while Japan’s Nikkei slipped 0.67 per cent in early trade today. The Shanghai Composite index fell 0.67 per cent.
The US Dow Jones, however, rose 0.72 per cent in yesterday’s trade.

The rupee appreciated by another 4 paise to 66.31 against the US dollar in early trade today, extending its winning streak for the sixth day on continued selling of the American currency by banks and exporters.

Forex dealers said that apart from sustained selling of the American currency by banks and exporters and crude falling to multi-year lows, dollar’s weakness against other currencies overseas backed up the rupee at the Inter-bank Foreign Exchange.

They said, however, a lower opening in the domestic equity market capped the gains.

The local currency had gained five paise to close at 66.35 in yesterday’s trade.

Meanwhile, the benchmark BSE Sensex fell 43.64 points, or 0.17 per cent, to 25,692.26 in early trade.

PTI