Sensex Falls For 2 Days In A Row Now, Rupee Declines 10 Paise

The 30-share Sensex witnessed a decline again on Wednesday after it ended lower on Tuesday too. BSE Sensex fell 335.69 points to 61,596 and NSE Nifty tumbled 95.05 points to 18,191.45 till 3:20 pm. Shares of Kotak Mahindra, Apollo Hospitals, HCL Tech, and SBI Life Insurance Company declined over 1% in trade today. Meanwhile, shares of Hero Motocorp and IndusInd Bank gained more than 1% each.

Earlier, on May 16, BSE Sensex declined 413.24 points or 0.66% to end at 61,932.47 even after starting the trade on a firm note while NSE Nifty traded lower by 112.35 points or 0.61 per cent to end at 18,286.50. Yesterday the markets dragged down by index majors HDFC twins and Reliance Industries.

Meanwhile, the rupee fell 10 paise to 82.35 against the US dollar in early trade on Wednesday, weighed down by the strength of the American currency in the overseas market and a negative trend in domestic equities, according to a PTI report.

At the interbank foreign exchange, the domestic unit opened at 82.29 against the dollar, then fell to 82.35, registering a decline of 10 paise over its last close.

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, said, "Global jittery spooks domestic indices. Nifty opened positive but soon gave up its gains for the second consecutive day to close with a loss of 105 points (-0.6%) at 18182 levels. Except for FMCG and Auto, all sectors ended in the red. Nifty smallcap 100 outperformed and closed with gains of +0.6%. Global markets are seeing a selloff as the debt ceiling negotiations continue. Investors remain cautious as the US faces the possibility of defaulting at the start of June."