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Stock Market Daily Updates

Sensex Down on early Morning
The BSE benchmark Sensex declined by over 57 points in early trade today as investors preferred to book profits after two sessions of gains. Besides, a subdued trend on Asian bourses also dampened the trading sentiments here.
The 30-share barometer fell by 57.26 points, or 0.29%, to 19,418.74. The index had gained nearly 232 points in the previous two sessions.


Indian Currency Rupee Cut Down 12paisa against Dollar

The rupee today fell by 12 paise to trade at 54.67 against the dollar in early trade at the Interbank Foreign Exchange, due to increased demand for the American currency from oil importers.

Besides, euro and yen weakness against the dollar overseas and a lower opening in the equity market also put pressure on the local unit, forex dealers said. The rupee had gained 30 paise yesterday to close at 54.55 against the dollar on fresh selling of the American currency by banks.

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Copper Updates London copper slipped on Wednesday, partially reversing gains of more than 1 percent in the prior session, as anti-austerity protests in Spain revived concerns over the euro zone debt crisis and the demand outlook for industrial metals. The protests in Spain, where the government is likely to set a fresh timetable for economic reforms later this week, highlight the country's financing challenges and stirred doubts among investors about whether it would have the political will to apply for an official bailout. Three-month copper on the London Metal Exchange was down 0.8 percent at $8,210.50 per tonne by 0705 GMT, after rising 1.1 percent in the previous session. In MCX Commodity expert feel copper, Rs 440 per kilogram is holding over the last couple of trading days despite the negative fundamentals. He believes that on the upside, the resistance near Rs 446 per kilogram remains strong.