Sensex snaps 2-day rally as dollar weakens against rupee

MUMBAI: India??™s Sensitive index fell, snapping a two-day 1.8% rally. Software exporters including Infosys Technologies Ltd declined after the dollar weakened against the Indian rupee, reducing the value of their overseas sales.

Bharat Heavy Electricals Ltd led engineering companies higher after Deutsche Bank AG rated the company "buy??™??™ on expectations of higher earnings.

The Mumbai Stock Exchange??™s Sensitive Index, or Sensex, declined 9.61, or 0.1%, to 11,904.60 at the 3.30pm local time close. The index earlier gained as much as 0.3% and fell as much as 0.6%.

The S&P/CNX Nifty Index on the National Stock Exchange, also in Mumbai, fell 3.10, or 0.1%, to 3473.75.

The rupee gained 0.1% to 46.2850 against the dollar at the 5pm close in Mumbai, according to foreign-exchange broker Kanji Pitamber & Co. That is the highest since July 12.

Infosys, the nation??™s second-largest software exporter, closed Rs13.65, or 0.7%, lower at Rs1,834.1. Wipro Ltd, India??™s third-largest software exporter, declined Rs7.1, or 1.4%, to Rs515.5. Tata Consultancy Services Ltd, the country??™s biggest software exporter, dropped Rs11.5, or 1.1%, to Rs1,006.3.

Bharat Heavy, the nation??™s biggest power-equipment maker, rose Rs28.9, or 1.3%, to Rs2,287.55. ??“ Bloomberg