Sensex extends losses; down by 84 points in early trade
The BSE benchmark Sensex today extended losses for the second straight session and lost over 84 points in early trade, due to a falling rupee and weakening trend on other Asian bourses.business Updated: May 23, 2012 09:45 IST
The BSE benchmark Sensex on Wednesday extended losses for the second straight session and lost over 84 points in early trade, due to a falling rupee and weakening trend on other Asian bourses.
The 30-share barometer, which had lost 156.85 points on Tuesday, fell further by 84.18 points, or 0.53%, to 15,942.23 in early trade, with banking, consumer durable and FMCG sectors stocks led the fall.
Similarly, the wide-based National Stock Exchange index Nifty declined by 23.10 points, or 0.48%, to 4,837.40.
Brokers said depreciating rupee, which plunged to a record low of 55.39 against the US dollar on Tuesday, raised concerns of slowing economic growth.
They said a weak trend on other Asian markets following overnight losses at the US market, also influenced the trading sentiment here.
In the Asian region, Japan's Nikkei fell by 1.21%, while Hong Kong's Hang Seng shed 1.54% in early trade. The US Dow Jones Industrial Average ended marginally 0.01% lower in Tuesday's trade.