Sensex, Nifty break in early trade amid weak Asian markets, Indian rupee comes at 81.86 against US dollar

Mumbai Major stock indices Sensex and Nifty declined in early trade on Monday amid a weak trend in other Asian bourses. During this period, the 30-share BSE Sensex fell 463.1 points to 61,200.38. The broader NSE Nifty was down 129.25 points at 18,178.40. Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, ITC, Reliance Industries, Tech Mahindra, HDFC, Infosys, Tata Consultancy Services and Nestle were among the major losers on the Sensex.

On the other hand, Axis Bank, Bharti Airtel, Maruti, Hindustan Unilever and Tata Steel gained. In other Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were in the red. According to the provisional data of the stock market, foreign institutional investors (FIIs) sold shares worth Rs 751.20 crore on a net basis on Friday.

Rupee falls 12 paise to 81.86 against US dollar
The rupee depreciated 12 paise to 81.86 against the US dollar in early trade on Monday amid strengthening of the US dollar overseas and sluggishness in domestic equities. At the Interbank Foreign Exchange market, the rupee opened at 81.84 against the dollar and then declined further to 81.86.

Thus, the rupee depreciated by 12 paise compared to its previous closing price. The rupee had lost 10 paise to close at 81.74 against the American currency on Friday. Meanwhile, the dollar index, which gauges the US dollar’s position against a basket of six major currencies, rose 0.25 per cent to 107.19. Experts said fall in crude oil prices may limit the rupee’s weakness. Global oil index Brent crude futures were down 1.08 per cent at $86.67 a barrel.

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