Sensex eases as April series sees shaky start; Rupee gains as Dollar weakens

By: | Published: March 31, 2017 10:30 AM

The BSE Sensex fell about 73 points to trade at 29,575 in early trade of the last session of 2016-17 as the April derivatives series started on a negative note amid a mixed trend in the global market.The rupee gained traction in the final session of 2016-17 as it strengthened by 12 paise to 64.80 against the US dollar early today on increased selling.

The 30-share index dropped by 72.53 points, or 0.24 percent, to 29,574.89, with stocks of banking, technology, FMCG, IT, auto, healthcare, power and auto hitting a soft patch.

The BSE Sensex fell about 73 points to trade at 29,575 in early trade of the last session of 2016-17 as the April derivatives series started on a negative note amid a mixed trend in the global market.

The 30-share index dropped by 72.53 points, or 0.24 percent, to 29,574.89, with stocks of banking, technology, FMCG, IT, auto, healthcare, power and auto hitting a soft patch. The barometer had soared 410.27 points in the previous three sessions on optimism surrounding the GST amid sustained foreign capital inflows.

You may watch:

The NSE Nifty was down 9.35 points, or 0.10 percent, at 9,164.40. The ones that lagged were HDFC Bank, Wipro, Bharti Airtel, Hero MotoCorp, TCS, HDFC Ltd, Cipla and Tata Motors. The emergence of profit-booking in recent gainers despite the beginning of the April futures and options series snapped the three-day winning run.

Furthermore, a mixed trend prevailed in Asia as investors brushed aside a positive lead from the US market and improvement in Chinese factory activity. Hong Kong’s Hang Seng was down 0.48 percent while Japan’s Nikkei was up 0.66 per cent in early trade today. The US Dow Jones Industrial Average ended 0.33 per cent higher yesterday.

Rupee

The rupee gained traction in the final session of 2016-17 as it strengthened by 12 paise to 64.80 against the US dollar early today on increased selling of the American currency amid continued foreign inflows. Besides the increased selling activity of the greenback by banks and exporters, dollar’s weakness against other currencies overseas led to the rupee’s climb.

However, a lower opening in the domestic equity markets capped the rupee’s gain, traders said. The local currency had closed with a mere loss of 1 paisa at 64.92 yesterday. Meanwhile, the benchmark BSE Sensex fell 72.53 points, or 0.24 percent, to 29,574.89 in early trade.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition