Sensex down by 281 pts, 3-week-low

Sensex down by 281 pts, 3-week-low

Sensex down by 281 pts, 3-week-low

Mumbai: The BSE benchmark Sensex dropped by 113 points in early session on Wednesday, weighed down by metal stocks, as trade deficit widened to an nearly 3-year high.

Disappointing quarterly earnings by some blue-chip companies made investors disheartened.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,944.94 points, traded at 32,820.25 points - down 121.62 points or 0.37 per cent - from Tuesday's close. The rupee, however, closed marginally higher at 65.41 per dollar, snapping a two-session losing streak. All sectoral indices led by metal, power and FMCG were trading in the red, falling by up to 2.14 per cent. Exports entered negative terrain after over an year, contracting 1.12 per cent in October.

It was followed by Sun Pharma and Vedanta, both falling over 4 per cent. Shares of UP, Hindalco and Indiabulls Housing Finance declined up to 3 per cent. Dr Reddy's, Tata Steel, Tata Motors, Adani Ports, ITC, HDFC Bank, SBI and Coal India were among other losers.

Japan's Nikkei rose 0.27 per cent and Hong Kong's Hang Seng 0.19 per cent in early trade. The Dow inched down 0.1 percent, the S&P 500 slid 0.2 percent and the Nasdaq Composite index shed 0.3 percent.

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