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Market trades lower, weak rupee, F&O expiry dampen sentiment

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The BSE Sensex traded at 38,681.18, lower by 41.75 points, or 0.11 percent at 11.45 am, while the The NSE Nifty 50 dropped to 11,673.45, shedding 18.45 points, or 0.16 percent.

Market trades lower, weak rupee, F&O expiry dampen sentiment
Indian equity indices, the BSE Sensex and the NSE Nifty 50, continue to trade weak ahead of Thursday afternoon. Market started on a flat note, opening in the green, but soon turned negative as the Indian rupee hit record low of 70.82 against the dollar.
The expiry of August futures and options today along with mixed trends from Asian markets further pushed investor sentiment towards caution and profit-booking.
At 11.45 am, the BSE Sensex traded at 38,681.18, lower by 41.75 points, or 0.11 percent. The 30-share index opened at 38,797 and has traded in a range between 38,819 and 38,624 so far.
The NSE Nifty 50 traded at 11,673.45, shedding 18.45 points, or 0.16 percent. After starting at 11,694.75, the index has traded in a tight range between 11,698.80 and 11,656.80.
Shares of Yes Bank, IndusInd Bank, Kotak Mahindra, Reliance, Axis Bank, Tech Mahindra and oil marketing comapnies of IOC, BPCL and HPCL were among top losers on indexes, while Tata Steel, UPL, Gail, ONGC, ITC, Bharti Airtel, Sun Pharma surged.
Midcaps traded positive but Nifty Bank declined by over half a percent. Earlier, the rupee hit a new record low of 70.82 against the dollar, after starting lower at 70.63.
Asian markets were largely positive with Japan's Nikkei up by 0.09 percent and Hong Kong's Hang Seng rising nearly a percent. South Korea's Kospi was flat at 0.03 percent.
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