Tuesday , May 30 2017
Home / Business / Financials / Sensex opens at 24,908, Nifty at 7579; Rupee opens at over 2-year low of 67.09

Sensex opens at 24,908, Nifty at 7579; Rupee opens at over 2-year low of 67.09

New Delhi :In a shcking spree for the Indian markets, Rupee on Monday opened at over 2-year low of 67.09/dollar against Friday’s close of 66.88.

Meanwhile, Sensex opened at 24,908 while Nifty remained at 7579 after being influenced by inflation data and outcome of the key US Federal Reserve rate decision.

The benchmark BSE Sensex slipped below the 25,000-mark by plunging 176 points and the NSE Nifty cracked the 7,600 level in early trade on sustained selling by investors despite robust pick up in October industrial data.

Sentiment was bearish on persistent GST bill worries and a weak trend in other Asian markets.

Moreover, caution prevailed ahead of the inflation data for November based on the wholesale price index (WPI) and the consumer price index (CPI), due later in the day.

The 30-share index, which lost 207.89 points in the previous session, dipped below the 25,000-level by losing 176.70 points or 0.70 per cent to 24,867.73.

The sectoral indices led by auto, realty, consumer durables and banking were trading in negative terrain with fall up to 1.03 per cent.

Similarly, the National Stock Exchange index Nifty broke below the 7,600-mark by tumbling 59.40 points or 0.78 per cent to 7,551.05.

In a big jump, the October industrial production grew 9.8 per cent on an annual basis, riding on the back of a robust growth in consumer products and capital goods during the festive season.

Brokers said sustained selling by participants amid a weak trend in other Asian markets ahead of the US Federal Reserve’s hotly-anticipated meeting this week which probably will hike interest rates and global oil prices continued to retreat to multi-year lows, dampened the trading sentiments.

Among other Asian markets, Hong Kong’s Hang Seng was down 1.32 per cent, while Japan’s Nikkei index tanked 2.46 per cent in early trade.

The US Dow Jones Industrial Average ended 1.76 per cent lower in Friday’s trade.

The rupee again breached the 67-mark by depreciating 18 paise to 67.06 against the dollar in early trade today at the Interbank Foreign Exchange, mainly on strong demand for the American unit from importers and some banks amid a lower opening of the domestic equity market.

Dealers said besides dollar’s gain against some overseas currencies, sustained capital outflows weighed on the domestic unit.

The rupee had closed 17 paise lower against the US dollar at 66.88 on Friday, the lowest level in more than two years in the face of strong demand for greenback.

Meanwhile, the benchmark BSE Sensex was trading below the 25,000-mark with a fall of 176.70 points or 0.70 per cent to 24,867.73 in early trade.