BSE Sensex near one-month low amid weakening rupee, HDFC Bank shares fall

Nov 11 2013, 11:28 IST
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BSE Sensex extends losses for the fifth straight session as funds and retail investors engaged in reducing positions amid a weakening rupee. BSE Sensex extends losses for the fifth straight session as funds and retail investors engaged in reducing positions amid a weakening rupee.
SummaryStocks of banking, realty, capital goods, metal, auto, oil and gas sectors are the major losers.

The BSE Sensex hit its lowest intra-day level since October 17 as blue chip shares including HDFC Bank fall on Fed tapering concerns after better-than-expected U.S. jobs data.

The benchmark BSE Sensex is down 0.6 per cent, while the broader Nifty falls 0.7 per cent heading for their fifth consecutive day of declines.

HDFC Bankper cent, while Larsen & Toubro falls 2.5 per cent.

Tata Motors declines 1.7 per cent after operating profit margins at key unit Jaguar Land Rover Ltd (JLR)for the July-September quarter missed estimates when adjusted for one-time tax incentives.

Selling worth of 10 billion rupees of index futures on Friday also weighs on sentiment, raising worries about a potential slowdown in their buying volume.

Overseas funds have been buyers of Indian equities for the last 25 consecutive sessions with total inflows so far in 2013 now at almost $16.7 billion.

The BSE Sensex declined over 183 points in early trade, extending losses for the fifth straight session as funds and retail investors engaged in reducing positions amid a weakening rupee.

The 30-share barometer, which had lost 573.21 points in the past four sessions, fell by 183.74 points, or 0.88 per cent, to 20,482.41 in the opening.

Stocks of banking, realty, capital goods, metal, auto, oil and gas sectors were the major losers that dragged down the Sensex.

Similarly, the NSE Nifty fell by 69.90 points, or 1.13 per cent, to 6,070.85.

Brokers said sustained selling by foreign funds as well as retail investors and a weakening rupee which again breached the 63 mark against the dollar, continued to dampen the trading sentiments. The rupee was trading 60 paise down at Rs 63.07 a dollar.

Meanwhile, in the Asian region, Japan's Nikkei Index was up 1.33 per cent, while Hong Kong's Hang Seng index gained 0.15 per cent in early trade.

The US Dow Jones Industrial Average ended 1.08 per cent higher in the previous session on Friday on strong US jobs figures.

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