The rupee depreciated 34 paise to 72.79 against the US dollar in early trade at the interbank forex market Monday on foreign fund outflows.
The rupee depreciated 34 paise to 72.79 against the US dollar in early trade at the interbank forex market Monday on foreign fund outflows. The rupee opened lower at 72.76 per dollar against previous close of 72.45 and dropped further to quote 34 paise down at 72.79 in opening trade.
Traders said increased demand for the US currency from importers and losses in the domestic equity market weighed on the rupee.
Besides, the dollar trading higher against some currencies overseas too put pressure on the rupee, they added.
The rupee on Friday clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar on easing crude oil prices.
The benchmark BSE Sensex fall 100.54 points, or 0.29 per cent, to 34,911.11 in opening session.
Sectoral indices, led by power, metal, banking and auto stocks, were trading in the negative terrain, falling by up to 1.44 per cent.
Brokers said sentiments were weak largely in tandem with a negative trend in other Asian markets, tracking losses at the Wall Street, and profit-booking by investors after Friday's rally.
NTPC fell the most by 3.01 per cent among Sensex scrips, followed by IndusInd Bank shedding 2.17 per cent.
Other laggards were PowerGrid, ICICI Bank, Hero MotoCorp, Adani Ports, Tata Motors, Vedanta, M&M, Asian Paint, Kotak Bank, Bajaj Auto, RIL, Tata Steel, HUL and HDFC, falling up to 1.95 per cent.
On the other hand, Axis Bank, ONGC, Sun Pharma, SBI and Yes Bank were trading positive, rising up to 1.98 per cent.
Meanwhile, foreign institutional investors (FIIs) sold shares worth a net of Rs 196.90 crore, while domestic institutional investors (DIIs) bought shares to the tune of Rs 852.99 crore.
Elsewhere in Asia, Japan's Nikkei was down by 1.16 per cent, while Hong Kong's Hang Seng fell 2.52 per cent. Korea fell 1.50 per cent, Shanghai Composite Index shed 2 per cent and Taiwan lost 0.89 per cent.
The US Dow Jones Industrial had ended 0.43 per cent lower Friday.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Rupee falls 34 paise against US dollar in early trade")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}