Mumbai: Sensex fell 84 points to end at 21,171.41 on Wednesday.
The market fell further in early trade on Wednesday following weakness in global equities as investors are cautious ahead of Fed meeting and RBI policy next week. The Sensex slipped 101.18 points to 21,154.08, and the Nifty declined 29.50 points to 6,303.35.
Indian rupee declined in early trade on Wednesday. It opened lower by 17 paise at 61.22 per dollar as against previous day's closing value of 61.05.
According to NS Venkatesh of IDBI Bank, the rupee will take cues from movement in equity markets. "Global equities are showing a downward trend. US budget deals are coming to an understanding which is a positive cue," he adds.
Venkatesh expects the currency to move in a range of 60.80-61.20/USD. The dollar is near a six-week low against major currencies holding around the 80 mark. Euro strengthened on expectations of a banking deal in the euro zone. Asian markets are weak following negative cues from Wall Street. Shanghai and Hang Seng lost over 1 percent. US markets ended modestly lower on tuesday, with S&P 500 retreating from a record close ahead of the Fed meet next week. European equities, too, trended lower.
In commodities, gold prices are near three-week high boosted by a weak dollar. Crude prices inched up this morning with Brent getting closer to USD 110 per barrel and Nymex topping USD 101 per barrel after data showed a larger-than-expected drop in crude inventories.
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