Global cues, weak rupee outlook drag market lower

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Global cues, weak rupee outlook drag market lower
Subdued data from the US on its services sector and lack of hints from Mario Draghi, ECB Chief on further easing saw Asian markets opening lower and the Indian markets following suit.

At 9.40 am IST, the Sensex was trading at 17088.06 lower by 63.13 points or 0.37% and the Nifty was trading at 5168.80 lower 19.60 points or 0.38%. 

On Thursday, the Sensex closed lower by 150 points on lingering fears that a weakening rupee could have an adverse effect on the economic fundamentals of the economy.

Consumer Durables, Realty and Bankex were under pressure today and were trading lower in early trade.

Among the stocks that gained today in early trade were Cipla, Wipro, ACC, Ranbaxy.

While on the losing side, the stocks that failed to lure investors in the morning trade were the Hero MotorCorp , Axis bank, BHEL, SBI.

Read more about: sensex, nifty
Story first published: Friday, May 4, 2012, 10:00 [IST]
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