Sensex, Nifty tumbles over 3.6 pc after global sell-off
The BSE Sensex cracked below the
34,000-mark by plunging about 1,275 points or 3.6 per cent in
opening trade today due to across-the-board losses after
investor sentiment was hit by a sell-off in world markets.
Extending its falling streak for the sixth straight
session, the 30-share index fell by 1,274.35 points, or 3.66
per cent, to 33,482.81 with all sectoral indices led
by realty, consumer durables, metal and banking tradings in
the negative zone.
The index had lost 1,526 points in the previous five
sessions after its remarkable over 2,200-point gain in January
Also, the broader NSE Nifty cracked below 10,300-mark by
falling 390.25 points, or 3.65 per cent to 10,276.30.
Market sentiment took a beating in line with sharp losses
at other Asian markets after a record-breaking loss on Wall
Street after investors fret over rising US borrowing costs,
The US Dow suffered its deepest fall in history, erasing
all of its 2018 gains, while the S&P 500 took a beating to sit
down for the year yesterday.
Asian markets followed the trend with Tokyo diving more
than 5 per cent, Hong Kong 4 per cent and Sydney 3 per cent,
Singapore 2.3 per cent, Seoul 3 per cent, Taipei 3.7 per cent,
and Shanghai 2.1 per cent.
The heavy profit booking comes after months of surges
fuelled by corporate earnings, global outlook and optimism
over the US economy.
In domestic markets, caution ahead of RBI monetary policy
meeting which begins later in the day and the rupee
depreciating by 29 paise to 64.36 against the dollar too
dampened the sentiment, brokers said.
Strong selling pressure dragged down all the Sensex and
the Nifty components.
Foreign institutional investors sold equities worth Rs
1,263.57 crore in yesterday's trade, as per provisional data.
The laggards include Tata Motors, Yes Bank, Axis Ban,
SBI, Asian Paint,Tata Steel, Adani Ports, ICICI Bank, IndusInd
Bank, HDFC Bank, Maruti Suzuki, L&T and Hero MotoCorp, plunged
by up to 7.55 per cent.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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