Sensex loses 85 points in a choppy trade; rupee falls 7 paise vs US dollar

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Published: November 28, 2017 9:57:06 AM

Sensex and Nifty started little changed on Tuesday as most of the Asian markets fell in the early trade today. The stocks of heavyweight companies such as ITC, ICICI Bank, Infosys, Reliance Industries contributed the most to the Sensex decline.

Bombay Stock Exchange building. (Image: BSE)

Sensex and Nifty started little changed on Tuesday as most of the Asian markets fell in the early trade today. BSE Sensex opened up 2.21 points at 33726.65 whereas NSE Nifty added 11.65 points to begin at 10387.9. Within minutes of trading, both the key indices extended the losses with benchmark Sensex sliding 85.12 points to hit the day’s low of 33,639.32 while Nifty shaved off 27.3 points to mark the day’s low at 10,372.25. The Indian rupee also followed the stock market trend, dropped 7 paise at 64.57 against the US dollar in the early session on Tuesday at the interbank foreign exchange on month-end demand for the American unit from importers and banks.

Amid the choppy markets, shares of Cipla, Maruti Suzuki, Bajaj Auto, HDFC, Axis Bank, Adani Ports were the major gainers today, advanced up to 0.7% while ONGC, Power Grid, NTPC, ITC, ICICI Bank, Asian Paints lost up to 1.6%. The stocks of heavyweight companies such as ITC, ICICI Bank, Infosys, Reliance Industries contributed the most to the Sensex decline. Collectively these four stocks alone washed off about 60 points while a little upmove in HDFC Bank and HDFC helped to trim the losses.

Meanwhile, among the Asian markets, Japan’s benchmark Nikkei 225 fell 0.1% to 22,461.10, South Korea’s Kospi added 0.2% to 2,513.45, Hong Kong’s Hang Seng slipped 0.7% to 29,485.42, while the Shanghai Composite dipped 0.4% to 3,308.55.

US markets settled with marginal changes on Monday, retreating modestly from record highs set during the session, as gains for Amazon countered losses in shares of energy companies, Reuters reported. The sales of new US single-family homes rose in October to a 10-year high amid robust demand across the country. The Dow Jones Industrial Average rose 22.79 points or 0.1% to 23,580.78, the S&P 500 lost 1 points or 0.04% to 2,601.42 and the Nasdaq Composite dropped 10.64 points or 0.15% to 6,878.52.

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