Sensex down 75 pts in opening trade ahead of inflation data

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Sensex
Mumbai, Oct 15: The BSE benchmark Sensex on Monday fell by almost 75 points in opening trade due to increased selling by participants ahead of September WPI inflation data and second quarter earnings by Reliance Industries. The 30-share index, which had lost 129.57 points in the previous session, fell by 74.52 points, or 0.39 per cent, to 18,600.66, led by stocks of auto and banking sectors. Similarly, the wide-based National Stock Exchange Nifty Index shed 25 points, or 0.44 per cent, to 5,451.05.

Brokers said participants adopted a cautious approach and trimmed their positions ahead of wholesale inflation data for September, to be released later in the day and Q2 earnings by Reliance Industries, which has significant influence over 30-share Sensex. A weak trend in the Asian region also had its impact on the trading sentiments, they added.

Meanwhile, in Asian region, Japan's Nikkei was down by 0.03 per cent, while Hong Kong's Hang Seng index shed 0.23 per cent in opening trade today.

Rupee weakened by 25 paise

The rupee on Monday weakened by 25 paise to 53.06 against the US dollar in early trade, extending previous losses at the Interbank Foreign Exchange due to increased demand for the American currency. Besides increased dollar demand from importers and euro's weakness overseas ahead of a European leaders austerity meeting later in the week, a lower opening in the domestic equity market put pressure on the rupee, forex dealers said. The rupee had lost 13 paise to end at 52.81 against the dollar in the previous session on Friday.

PTI

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