1. Sensex edges lower by 88 points on global weakness; Rupee down 3 paise against dollar in early trade

Sensex edges lower by 88 points on global weakness; Rupee down 3 paise against dollar in early trade

Geopolitical issues continued to dominate the scene as the Sensex slipped over 88 points in early part today, mirroring global losses.

By: | Published: April 17, 2017 10:19 AM
The weakness remained for the third session as the 30-share index fell 88.32 points, or 0.30 percent, to 29,373.13.

Geopolitical issues continued to dominate the scene as the Sensex slipped over 88 points in early part today, mirroring global losses.

The weakness remained for the third session as the 30-share index fell 88.32 points, or 0.30 percent, to 29,373.13. Much of the softness came from metal, IT, FMCG, technology and auto. The gauge had lost 326.90 points in the previous two sessions.

Also, the NSE Nifty dropped 21.25 points, or 0.23 percent, to 9,129.55.

Asian shares showed a weak trend after geopolitical muscle-flexing over Syria, Afghanistan and the Korean Peninsula, which weighed on sentiment. The market was shut on Friday for Ambedkar Jayanti and Good Friday.

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While Hong Kong’s Hang Seng was down 0.21 percent, Japan’s Nikkei shed 0.31 percent. The Shanghai Composite index fell 1.02 per cent in early trade today.

Rupee

The rupee was trading lower by 3 paise at 64.44 against the US dollar in early trade today on foreign fund outflows amid increased demand for the American currency from importers and a lower opening of the domestic equity market.
However, a weak dollar against major global currencies capped the losses, forex dealers said.
The domestic unit closed higher by 26 paise at 64.41 in the previous session on Thursday on account of fresh selling of the American currency by exporters, besides a weakness in the greenback overseas.
Forex market also remained shut on Friday on account of ‘Dr Babasaheb Ambedkar Jayanti’ and ‘Good Friday’.

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