Continued its losing streak for the fifth straight session, the benchmark BSE Sensex fell by another 103 points in early trade today on sustained selling by funds and retail investors coupled with weak corporate earnings figure.
The 30-share index was trading down by 103.90 points, or 0.37 per cent, to 27,782.31 with stocks of healthcare, IT, teck, FMCG, auto and banking sectors leading the fall. The gauge had lost 1,158.23 points in the previous four sessions.
On similar lines, the National Stock Exchange Nifty shed 42.30 points, or 0.50 per cent, to 8,405.80.
Brokers said persistent selling by participants following weak earnings by some companies mainly dampened the sentiment.
Besides, weakness in the rupee that fell to over 1-month low of Rs 63.15 against the dollar also triggered selling activity, they said.
Among other Asian markets, Hong Kong’s Hang Seng rose by 1.14 per cent and Japan’s Nikkei moved up by 0.90 per cent in early trade today.
The US Dow Jones Industrial Average ended 1.17 per cent higher in yesterday’s trade.
The rupee plunged by another 24 paise to hit a new one-month low of Rs 63.15 against the dollar in early trade today at the Interbank Foreign Exchange due to sustained demand for dollars from importers and bankers.
Dealers said a lower opening in the domestic equity markets also weighed on the Indian currency.
They attributed the rupee’s fall to dollar gains against other currencies overseas.
–PTI