Sensex, Nifty tumbles over 3.6 pc after global sell-off

Updated: Wed, Feb 07, 2018
12:11 am
PTI
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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

month.

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,

brokers said.

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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