Sensex plunges by over 300 points in opening trade

STAFF WRITER 9:37 HRS IST

Mumbai, Jan 31 (PTI) The Bombay Stock Exchange benchmark Sensex plummeted by over 300 points in opening trade today as panicky fund managers and retail investors gave into selling pressure for the fourth consecutive session, prompted by weak global cues amid concerns over the unrest in Egypt.

The 30-share barometer fell by 301.70 points, or 1.68 per cent, to 18,094.27 points in the first few minutes of trade today. The Sensex had lost 755 points in the previous three sessions.

Similarly, the wide-based National Stock Exchange Nifty index declined by 79.55 points, or 1.44 per cent, to 5,432.60.

Rupee falls by 21 paise to 2-month low against dollar

STAFF WRITER 9:42 HRS IST

Mumbai, Jan 31 (PTI) The Indian rupee fell by 21 paise to a two-month low of Rs 45.97 per US dollar in early trade today, weighed down by the gains registered by the greenback against other major currencies.

Dealers said the rupee weakness was due to the dollar gains against other Asian currencies, coupled with a weak opening in the domestic stock market.

The rupee had depreciated by 19 paise against the US currency to close at Rs 45.76/77 in the previous session on Friday amid sluggish domestic equities and fresh dollar demand from importers.

Meanwhile, the Bombay Stock Exchange benchmark Sensex plunged by 301.70 points, or 1.68 per cent, to 18,094.27 in opening trade today.