Indian stocks retreated for a second day, led by lenders and energy companies, amid speculation a rally in crude oil to a five-week high will stoke inflation. The Sensex opened down by 48.98 points at 20805.94 and Nifty declined 14 points to open the day at 6187.95. The rupee fell 8 paise in early trade on Wednesday to 62.43 per dollar as against previous day's closing of 62.35 per dollar. The dollar index has slipped 0.5 percent in early trade. And the yen enjoys a small reprieve as investors locked in profits ahead of major risk events including US jobs data due later in the week. Global markets extended losses as uncertainty continued to build over the US Federal Reserve's next step. Dow lost almost 100 points and European markets closed at six week lows. Asia too is trading weak with the Nikkei down over 1 percent in early trade. On BSE, Midcap and small cap are trading marginally higher with gains of 0.21% and 0.51% respectively and on sectoral front, Power sector is the best performer to gain 0.48% while capital goods is trading down by 0.72%.
Further the market breath stands positive with 996 shares are seen advancing against 667 declining shares.
Further the market breath stands positive with 996 shares are seen advancing against 667 declining shares.
No comments:
Post a Comment