Key equity indices close in red ahead of results, rupee further slips

Mumbai: Mixed global cues and cautiousness ahead of the announcement of quarterly results subdued the equity markets on Monday. The key indices closed in the red with heavy selling pressure witnessed in telecom, oil and gas and metal stocks. The barometer 30-scrip Sensex closed at 27,746.66 points, down 89.84 points or 0.32 per cent from the previous close at 27,836.50 points on Friday.

After opening at 27,920.66 points, Sensex touched a high of 28,013.50 points and a low of 27,697.69 points during the intra-day trade. The market breadth was tilted in favour of the bears with 1,621 declines and 1,113 advances. The wider NSE Nifty edged down to 8,499.95 points, down 41.45 points or 0.49 per cent. On Friday, the benchmark indices closed lower subdued by profit booking, a weak rupee and lower crude oil prices.

In forex market, Indian currency on Monday fell 11 paise to 67.18 against US dollar as importers and banks stepped up buying the American currency. Rupee on Friday fell 16 paise to 67.07 taking the total drop of 27 paise in just two sessions.

In forex market, Indian currency fell 11 paise to 67.18 against US dollar as importers and banks stepped up buying the American currency. Rupee on Friday fell 16 paise to 67.07 taking the total drop of 27 paise in just two sessions. However, the fall was restricted in the wake of dollar’s weakness against some currencies overseas and a higher opening in domestic equity market, according to forex dealers.

Source: IANS