Mumbai, India (BBN)-The Nifty and the Sensex were trading marginally down with participants liquidating positions in view of November month derivatives expiry.
Besides, weak Asian cues as upbeat economic data strengthened prospect of higher US interest rates and the continued free-fall of the rupee against the American currency weighed on the sentiment.
At 10:10am, the 30-share BSE index Sensex was down 87.69 points or 0.34 per cent at 25,964.12 and the 50-share NSE index Nifty was down 35.05 points or 0.44 per cent at 7,998.25.
The rupee today weakened by another 27 paise against the dollar to trade at a fresh nine-month low of 68.83, extending its free-fall for the fifth straight day due to sustained foreign fund outflows and strengthening of dollar against other currencies overseas.
A report by SMC Global said: “US stocks closed mixed on Wednesday as investors digested a number of economic data, including minutes from the US Federal Reserve’s November meeting. Fed minutes indicate rate hike “relatively soon” and stockpiles of crude oil in the US declined last week, according to new government statistics released Wednesday. New home sales in the US fell by much more than anticipated in the month of October.”
All sectoral indices barring IT and metals were trading in the red. Volatility was down a tad with the India Vix ruling at 17.9650.
Among other Asian markets, Hong Kong’s Hang Seng shed 0.37 per cent, while Shanghai Composite Index shed 0.11 per cent in early trade. Japan’s Nikkei, however, was up 1.08 per cent.
The US Dow Jones Industrial Average had ended 0.31 per cent higher yesterday.