The rupee declined by 5 paise to Rs 53.33 per dollar in early trade on the Interbank Foreign Exchange market today, weighed down by dollar's gains against other currency rivals.
Meanwhile, Nirmal Bang in a research report said that USD/INR can give a dip upto 53.15 but can be bought on dips for the day. It has a good intraday support at 52.95 and resistance is at 53.55. Expected intraday range is 53.15 – 53.55.
Asian shares eased on Tuesday as investors booked profits from recent strong rallies in the face of weak U.S. data and worries that a potential political shake-up could disrupt the eurozone's efforts to resolve its debt crisis. Nikkei slipped 1.2% at 11,121. Hang Seng and Shanghai Composite were down 0.5-1.5% each.
BSE realty index continues to trade in red - down 1.1% at 2,177. Metal shares have slipped with the BSE metal index down 1% at 10,311. Growth in China's services sector hit a four-month high in January, a private survey showed, as a better business climate increased deal-making and lifted corporate confidence to an eight-month peak.
On the other hand, BSE healthcare index bucked trends and went up 0.5% at 8,004.
Morgan Stanley raised its ratings on ONGC and HPCL to "overweight" from "equalweight", citing benefits from the recent government reforms on fuel prices. ONGC is up 0.3% at Rs 326 while HPCL is trading at Rs 328 - down 0.3%.
BHEL, Sterlite and Coal India have slipped 1.6-2.7% each. Reliance is the top dragger - accounting for a 17 points loss on the Sensex. HDFC Bank, ITC and Tata Motors are weighing on the index too. BHEL has dropped 2.6% with the stock extending Friday's fall triggered after reporting weak results for Q3 December 2012.
On the other hand, Sun Pharmaceutical Industries rose 2.88% to Rs 738.85 at 10:14 IST on BSE after the company said the US health regulator has approved a generic version of the cancer drug Doxil.
