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Sensex down 147 Points in Early Trade on Growth Concerns, Weak Rupee

Wednesday, July 31, 2013
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Mumbai: Extending losses for the sixth straight session, the 30- share barometer fell by 147.86 points, or 0.76 percent, to 19,200.48. Sensex has lost almost 955 points in the previous five sessions.

The BSE benchmark Sensex fell over 147 points in early trade dragged down by realty, power and banking sector stocks on sustained selling by funds and retail investors, after RBI lowered GDP forecast amid a falling rupee.

Extending losses for the sixth straight session, the 30- share barometer fell by 147.86 points, or 0.76 percent, to 19,200.48. Sensex has lost almost 955 points in the previous five sessions.

On similar lines, the wide-based National Stock Exchange index, Nifty, declined by 53.80 points, or 0.93 percent, to 5,701.25.

Brokers said steady selling by funds on growth concerns after the Reserve Bank lowered GDP estimates to 5.5 percent from earlier projection of 5.7 percent for the current fiscal, dampened the trading sentiment.

Besides, weakening rupee which fell by 60 paise to 61.07 against the dollar in early trade, was another dampening factor, they said.

Meanwhile in the Asian region, Hong Kong's Hang Seng index was up by 0.30 percent, while Japan's Nikkei Index was down 0.48 percent in early trade.

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Source: PTI
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