Rupee falls by 15 paise against dollar in opening trade

MUMBAI: The Indian rupee depreciated by 15 paise against the US currency in early trade on Friday on increased dollar demand by banks and concerns over fund outflows from the weak domestic equity markets in tandem with falling Asian bourses.

At the Interbank Foreign Exchange (Forex) market, the domestic currency was quoted at 49.12 against the dollar, a fall of 15 paise over the previous close of 48.97/98 a dollar.

Dealers said increased demand from state-run banks for the greenback on behalf of their clients put pressure on the rupee.

They added that fears of capital outflows from the domestic stock markets following the fall in Asian equity markets in early trade put pressure on the rupee.

Meanwhile, Japan's Nikkei fell by 3.35%, while Hong Kong's Hang Seng moved down by 1.55% in early trade.

Source: http://timesofindia.indiatimes.com/Business/Re_falls_by_15_paise_against_dollar/articleshow/4050604.cms

Sensex down 148 pts in early trade

MUMBAI: The Bombay Stock Exchange benchmark Sensex fell by over 148 points in early trade on Friday on heavy selling by funds following a weak global trend.

The 30-share index, which had lost 21.19 points in Thursday's choppy trade, fell further by 148.92 points to 9,087.36 points as heavyweights Reliance Industries, Infosys Technologies, ICICI Bank and State Bank of India recorded heavy losses.

The 50-share National Stock Exchange index Nifty lost 49.85 points at 2,774.10 points.

Marketmen said most of the bluechips retreated following overnight sharp losses on the US market on weak economic data.

They attributed profit-taking by speculators in bluechip stocks at prevailing higher levels after a recent rally to fall in stock prices.

Major losers, which dragged the Sensex down, are BHEL by 4.40% at Rs 1,296, RIL by 1.17% at Rs 1,253.25, Infosys by 1.27% at Rs 1,293, Tata Consultancy by 1.83% at Rs 499.70.

Besides, Larsen and Toubro lost 0.67% at Rs 655.85, Tata Power 2.04% at Rs 745.10, Tata Motors 2.03% at Rs 147.50 and Tata Steel 1.69% at Rs 180.20.

Japan's Nikkei fell 3.35% and Hong Kong's Hang Seng lost 1.55% in early trade on Friday.

The US Dow Jones Industrial Average had closed 2.70% down, while London's FTSE shed 2.45% on Thursday.

Source: http://timesofindia.indiatimes.com/Business/Sensex_down_148_pts_in_early_trade/articleshow/4050882.cms