Sensex trades lower on weak Asian cues, falling rupee

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Sensex trades lower on weak Asian cues, falling rupee
Shares slipped in trade today due to weak Asian cues and a falling rupee, even as the RBI decision to hold rates steady saw profit booking in banking stocks. The BSE benchmark Sensex fell by almost 68 points in early trade.

Similarly, the wide-based National Stock Exchange index Nifty shed 25.10 points, or 0.43 per cent, to 5,824.95. Brokers said besides profit-booking by speculators after recent gains, a weak trend in the other Asian markets with investors sitting on the sidelines as they await the US Federal Reserve's plans for its stimulus programme, mainly influenced the trading sentiment. In the Asian region, Japan's Nikkei Index fell by 0.70 per cent, while Hong Kong's Hang Seng index shed 0.74 per cent in early trade today. The US Dow Jones Industrial Average ended 0.73 per cent higher yesterday.

Among the top gainers in trade from the Nifty were Bharti Airtel, DLF and Reliance Infra. Shares that fell were from the banking sector led by ICICI Bank, HDFC Bank and Axis Bank. PSU banking stocks were also seen weak in trade today. Tata Power, Tata Motors and Ultratech Cement were the top losers from the Nifty pack.

GoodReturns with inputs from PTI

Read more about: sensex, nifty
Story first published: Tuesday, June 18, 2013, 9:53 [IST]
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