Opening Bell: Key indices fell in early trade over decline in Asian markets

The key indices on Friday fell in morning trade over a decline in Asian markets. The BSE Sensex slumped about 232 points to 32,138.25 points. 

In the Asian region, Hong Kong's Hang Seng fell 0.78%, Japan's Nikkei shed 0.29% , while Shanghai Composite Index down 0.59 per cent in their late morning
deals.

Besides, weak Asian shares, other factors that contributed to slump are heavy selling in banking, financial, capital goods and FMCG stocks amid sustained foreign fund outflows. 

The BSE 30-share barometer tanked 231.79 points to 32,138.25. The gauge had lost 53.72 in the previous three sessions.

All sectoral indices led by metal, bankex, PSU and realty were trading in the red, falling by up to 1.56%. 

Also, the NSE Nifty was trading down by 96.70 points.

Weak Asian cues after China's sovereign rating was downgraded by agency on fears over its ballooning debt and sustained foreign fund outflows, too negatively impacted sentiments, they added.

The rupee fell 31 paise to 65.12 against the dollar, its lowest level since May 23 in early trade at forex market.