Sensex down 38 points on weak rupee, global cues

Mumbai, August 7 (IANS) A benchmark index of Indian equities markets was trading in the red Wednesday, after crashing 450 points in the previous session due to weak rupee and negative cues from the global markets.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened in the positive at 18,758.53 points, was trading 18,695.20 points in the afternoon session, down 0.20 percent or 37.84 points from its previous day close at 18,733.04 points.

The Sensex touched a high of 18,771.77 points and low of 18,551.35 points in the intra-day. The index had plunged 449.22 points or 2.34 percent Tuesday.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) was trading 0.16 percent or 9.05 points down at 5,533.20 points.

Weakness in rupee and negative cues from the global markets further dampened the sentiments at the Indian equities markets. The rupee slumped to 61.40 against a dollar, sharply down from its previous day close at 60.77.

Most of the Asian markets were under heavy selling pressure with Japan's Nikkei dropping by almost four percent.

There was selling pressure in FMCG, auto, capital goods and IT stocks. FMCG of the BSE slumped 1.05 percent. Auto index fell 1.04 percent. Capital goods index was down 0.91 percent and IT index was down 0.21 percent.

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