Quick view: Sensex falls by 77 points as R sinks below 60 mark

Updated: Jun 27 2013, 06:02am hrs
Stock markets on Wednesday mirrored slide in rupee with Sensex, surrendering gains in last hour of trade to end 77.03 points down as the currency breaching the 60-mark against dollar renewed concerns over FII outflows. With the rupee hitting a life-time low of 60.62 in late afternoon deals, domestic stocks led by auto, metal, consumer durables and banks were rattled, despite firm European cues. The Sensex resumed higher and moved in a narrow range till late afternoon before succumbing to sell-off at the fag-end to settle at 18,552.12, a fall of 77.03 points or 0.41%. Out of the 30-scrip Sensex, 18 ended lower led by Bharti Airtel falling 5.74% on R650-crore fine for allegedly violating roaming norms. M&M closed down 4.63%. Bucking the general weak tend, stocks of software exporters ended with gains on hopes of better earnings on account of a strong dollar. TCS rose 2.84%, Wipro gained nearly 1%and Infosys rose 0.8%. The Nifty also dropped 20.40 points, or 0.36%, to end below the key 5,600-mark at 5,588.70.

Dubai exchange to list Sensex Futures on July 5

The Dubai Gold and Commodities Exchange (DGCX) has announced it will launch a futures contract based on Sensex. The contract will be formally listed by DGCX on July 5. The DGCX Sensex Futures will be the first Indian index futures to be introduced to the West Asia and North Africa. Considered the most accurate gauge of the Indian market, the Sensex Index tracks the performance of 30 of the largest and most heavily traded stocks in the country, DGCX said. Once listed, DGCX Sensex Futures will provide unique trading opportunities for international investors seeking access to Indias economy. The contract, denominated in the US dollars, will use the same settlement methodology and calculations as its underlying index, the Sensex. The launch follows DGCXs extremely successful Indian rupee contracts, which continue to generate record trading volumes. The Sensex contract is also part of a planned expansion of DGCXs Emerging Market product offering, and will offer an exciting trading option for investors seeking exposure to one of the worlds largest Emerging Markets. DGCX additionally launched the worlds first Indian Rupee futures contract and the West Asias first Copper futures contract. The listing of Sensex Futures also marks DGCXs introduction of Equities as a new asset class on the exchange. DGCX aims to further expand this equities proposition by launching similar contracts such as the MSCI India Index Futures in the near future.