Sensex falls over 150 points on rising oil price, rupee

Sensex falls over 150 points on rising oil price, rupee

Adding to the woes, the rupee fell on Tuesday plunged to a 16-month low to close at 68.07 to the dollar due to hardening global crude oil prices and strengthening dollar.

With the state assembly poll behind us, he said that the market's focus would now turn towards rising global crude oil prices, which is negative for India.

Trend at other Asian markets, however, was better as investors kept a cautious watch on developments in US-China trade negotiations.

The benchmark Sensex slumped 300 points to end at 34,848.30, while the broader NSE Nifty cracked below the 10,600-mark. "A BJP victory in Karnataka will revive hopes of Narendra Modi forming the government again in 2019, which is important for the follow-up of economic reforms", said Anand Shah, deputy CEO and head of investments BNP Paribas Mutual Fund India.

The BSE Sensex, which opened at 35,537.85 points, was trading at 35,687.76 points (1.12 p.m.), higher by 131.05 points or 0.37 per cent from the previous day's close at 35,556.71 points.




The 30-share Sensex fell by 125.10 points (-0.35 percent) to 35024.02 in early trade.

On the sectoral front, PSU banks dropped by 3.05 per cent, energy 1.70 per cent, banks 1.10 per cent, finance service 1.03 per cent, private bank 0.92 per cent, infra 0.54 per cent, metal 0.41 per cent and auto 0.20 per cent.

Major losers were Wipro, L&T, HDFC Bank, Adani Ports, Infosys, Tata Motors, Asian Paints, Bharti Airtel, ICICI Bank, Maruti Suzuki, Axis Bank, ITC Ltd and Reliance Industries, falling by up to 1.28 per cent. China's Shanghai Composite index too rose 0.46 per cent.

Hong Kong's Hang Seng advanced 0.22 percent while Japan's Nikkei was up 0.25 percent in early trade.

On the other hand, reality jumped by 2.06 per cent, FMCG 1.81 per cent, media 0.56 per cent and IT 0.15 per cent.

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