Tuesday , 19 September 2017

Home » Business » Sensex extends losses, Nifty goes below 10,000; funds inflows lift rupee to 63.60 against dollar

Sensex extends losses, Nifty goes below 10,000; funds inflows lift rupee to 63.60 against dollar

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Banking, healthcare and FMCG stocks weighed heavy on markets today as the Sensex faltered and the Nifty dropped below the key 10,000-mark in early session. Asian shares were a mixed bag. The 30-share Sensex fell 76.20 points — or 0.23 per cent — to 32,161.68. The gauge had lost 337 points in the previous two sessions.

Healthcare, FMCG, banking, power and auto indices were all in the loss zone, down by up to 1.67 per cent.

The Nifty, which stayed above the 10,000 mark for seven straight sessions, slipped below the psychological level, down 22.55 points, or 0.22 per cent, at 9,991.10. The indices were pulled lower mostly by Sun Pharma, Lupin, Dr Reddy’s, Cipla, ONGC and Reliance Industries.

In contrast, Coal India, Maruti Suzuki and Hero MotoCorp, were up on selective buying support, chiefly on strong fundamentals. Traders said persistent selling by investors after recent gains amid muted earnings numbers by some companies and weak global leads dampened sentiment.

Japan’s Nikkei was down 0.36 per cent and Hong Kong’s Hang Seng shed 0.01 per cent while Shanghai Composite rose 0.11 per cent. The Dow Jones Industrial Average ended at a record high by rising 0.04 per cent yesterday.  The rupee appreciated by 9 paise to 63.60 against the US dollar today on continued foreign capital inflows.

It also found support from dollar’s weakness overseas and increased selling of the American currency by exporters and banks, dealers said.

Domestic equities were subdued at the start, which put a lid on the gains. Yesterday, the rupee had ended little changed at 63.69 — its highest level in 2 years — as RBI intervention in the foreign exchange market mopped up excess dollar liquidity. Meanwhile, the benchmark Sensex fell 76.20 points, or 0.23 per cent, at 32,161.68 in early trade today.

Sensex extends losses, Nifty goes below 10,000; funds inflows lift rupee to 63.60 against dollar Reviewed by on . Banking, healthcare and FMCG stocks weighed heavy on markets today as the Sensex faltered and the Nifty dropped below the key 10,000-mark in early session. Asia Banking, healthcare and FMCG stocks weighed heavy on markets today as the Sensex faltered and the Nifty dropped below the key 10,000-mark in early session. Asia Rating: 0
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