The benchmark BSE Sensex fell almost 129 points in early trade today due to profit booking by investors after recent strong gains. The 30-share barometer declined 128.72 points, or 0.43 per cent, to 29,520.27 points, with shares of IT, Teck, metal, banking, oil & gas and capital goods trading with losses.
The index had gained 250.88 points in the last two sessions. Also, the NSE Nifty fell by 31.55 points, or 0.34 per cent, to 9,128.50. Brokers said investors booked profits after recent strong rally in stocks.
The Sensex had rallied by 702.76 points to 29,648.99 in the last week after the BJP’s big win in the key state of Uttar Pradesh. The Nifty gained 225.50 points, or 2.52 per cent to finish new closing peak at 9,160.05.
In the Asian region, Japan’s Nikkei fell 0.35 per cent and China’s Shanghai Composite index was down 0.02 per cent while Hong Kong’s Hang Seng rose by 0.53 per cent in early trade today. The Dow Jones Industrial Average ended 0.10 per cent lower on Friday.
Rupee gains 9 paise against US dollar in early trade
The rupee strengthened by 9 paise to trade at 65.37 against the dollar in opening trade today on fresh selling of the US currency by exporters and banks.
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A weak dollar in overseas markets and selling of the US currency by exporters and banks supported the rupee in opening trade, forex dealers said.
Further, a higher opening in the domestic equity market and strong FII inflows influenced the rupee uptrend, they added.
On Friday, the rupee had lost 5 paise to end at 65.46 against the US currency on dollar demand from importers and suspected RBI intervention, ending its four-day dream run.
Meanwhile, the benchmark BSE Sensex rose by 50.49 points, or 0.17 per cent, at 29,699.48 in opening trade.