Press Esc to close

Weak rupee, US polls keep markets in check, Sensex up 7 points

Mumbai, Nov 5, 2012 (PTI) 17:04 IST
A sharp fall in rupee against the dollar and cautious trading in global stocks ahead of the US Presidential polls led to listless trading in Indian markets today with BSE benchmark ending merely 7 points up.

The 30-share Sensex traded in a narrow 110-point range before closing at 18,762.87, up 7.42 points -- extending the recent gains to fourth straight day after it gained 324 points in the last 3 days.

In line with most Asian indices that ended in negative zone, domestic stocks failed to make any sharp gains amid the rupee dropping 1.44 per cent or 77 paise to 54.58 against the US dollar due to heavy dollar demand in afternoon trade.

"Generally it is observed that equity markets fall if dollar rises," said Milan Bavishi, Head Research, Inventure Growth & Securities.

Besides, lack of fresh triggers and cautious trading ahead of a slew of blue chip earnings, including Cipla, also kept investors on sidelines for most of the session today.

The sentiment was also affected by European stocks falling and the euro trading at an almost two-month low on concerns that Greece will struggle to win a bailout, brokers said.

US voters will decide tomorrow between President Barack Obama and Republican challenger Mitt Romney and the results could have have global implications, said analysts.

In Sensex, 12 stocks led by pharma majors Cipla (up 0.87 per cent and Dr Reddys (up 1.36 per cent) led gains. FMCG stocks, led by ITC (1.64 per cent), also closed higher.

Metal and auto stocks came under pressure on selling. Bajaj Auto ended over 2 per cent lower. Besides, two of the most influential stocks -- Reliance Industries declined by 0.35 per cent and Infosys fell by 0.44 per cent.

The NSE 50-share Nifty moved up by 6.50 points or 0.11 per cent to finish at 5,704.20.

Go to Top

More from this section
Most trending stories
Photo Gallery
An employee walks past a poster of the upcoming Bollywood movie 'Padmavati' outside a theatre...

An employee walks past a poster of the upcoming Bollywood movie 'Padmavati' outside a theatre...

Smoke billowing from a building after a leather goods manufacturing unit caught fire in Kolkata...

Smoke billowing from a building after a leather goods manufacturing unit caught fire in Kolkata...

India's Shashi Chopra (Blue) is declared winner against Namuun Monkhor of Mongolia...

India's Shashi Chopra (Blue) is declared winner against Namuun Monkhor of Mongolia...

Members of the NDRF and officials conducting a tsunami mock drill in Puducherry on Friday...

Members of the NDRF and officials conducting a tsunami mock drill in Puducherry on Friday...

Congress vice-president Rahul Gandhi addressing a rally in Porbanbar, Gujarat...

Congress vice-president Rahul Gandhi addressing a rally in Porbanbar, Gujarat...

A view of the Taj Mahal Palace hotel which was a target during the 26/11 terror attack...

A view of the Taj Mahal Palace hotel which was a target during the 26/11 terror attack...

Derailed coaches of Vasco Da Gama-Patna express train near Manikpur railway station in Manikpur...

Derailed coaches of Vasco Da Gama-Patna express train near Manikpur railway station in Manikpur...

Vendors sell fish at a fish market in Kolkata, India...

Vendors sell fish at a fish market in Kolkata, India...

A worker applies colour to strings which will be used to fly kites, by a roadside in Ahmedabad...

A worker applies colour to strings which will be used to fly kites, by a roadside in Ahmedabad...

A girl collecting fallen Chinar leaves at a Mughal Garden on the out skirts of Srinagar...

A girl collecting fallen Chinar leaves at a Mughal Garden on the out skirts of Srinagar...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.