Published: Tue, April 17, 2018
Markets | By Noel Gibbs

Sensex, Nifty open in red over mixed Asian cues

Sensex, Nifty open in red over mixed Asian cues

A mixed trend in other Asian markets following a positive lead from Wall Street also influenced sentiment.

Meanwhile, the rupee fell 20 paise to 65.40 against the USA dollar in early trade today on global trade war concerns, dip in India's exports in March and a sharp drop in domestic equities.

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Equity indices on Monday shrugged off losses incurred in morning trade to finish on a respectable note. But, a weak dollar against major global currencies capped some losses, forex dealers said.

The rupee edged higher to 65.42 against the United States dollar today. Shanghai Composite Index, however, fell 0.25 percent.

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The twin shocks of country's trade deficit hitting $13.69 billion and exports dipping after a gap of four months in March weighed on the rupee.

Meanwhile, the buildup inflation rate in the financial year so far was 2.47 percent, compared to a build-up rate of 5.11 percent in the corresponding period of the previous year, the Ministry of Commerce and Industry revealed on Monday. 30-share BSE Sensex lost nearly 150 points to open below 34,000-mark, but the index soon mad e a comeback and was at 34,119.45, still 73.20 points down, at 9.30 am. Earlier the gauge had gained almost 1300 points in the previous eight sessions. At the close, the benchmark 30-share index, BSE Sensex added 112.78 or 0.33% at 34,305.43 with 17 components registering rise.

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