Sensex extends losses for fifth session; Rupee cracks 68-level
Extending losses for the fifth session, the Sensex fell over 49 points in early trade while the rupee took a sharp plunge of 32 paise to crash below the 68-mark against the US dollar.
Zee Media Bureau
Mumbai: Extending losses for the fifth session, the Sensex fell over 49 points in early trade on Friday on sustained foreign capital outflows after hints of rate hike in December by US Federal Reserve Chair Janet Yellen.
Besides, the rupee took a sharp plunge of 32 paise to crash below the 68-mark against the US dollar in early trade today on higher dollar demand from importers after the American currency strengthened overseas coupled with lower opening in the domestic stock market.
Dealers said dollar's strengthening against rivals overseas following hints of interest rate hike in December from US Federal Reserve chief Janet Yellen also weighed on the domestic currency.
The 30-share index was down 49.21 points, or 0.18 per cent, at 26,178.41, with stocks of consumer durables, metal, FMCG, realty, capital goods and healthcare leading the fall.
The gauge had plunged by 1,290.06 points in the previous four sessions.
The NSE benchmark Nifty fell 19.65 points, or 0.24 per cent, to trade at 8,060.30.
Sentiments took a hit after the US Federal Reserve chief indicated the US may hike interest rates next month, leading to acceleration in capital outflows by foreign funds, traders said.
Moreover, prevailing cash crunch following the government's demonetisation decision has severely impacted select sectors like real estate, consumer goods and metal.
Besides, a mixed trend on other Asian bourses also influenced the trading momentum.