Sensex dips 201 pts in early trade; Nifty slips below 7,800
Mumbai : Falling for the third straight session , the benchmark BSE Sensex plunged over 201 points, while the NSE Nifty dipped below the 7,800-mark in early trade today on sustained selling by funds and retail investors amid weak global cues.
The 30-share index was trading down by 201.35 points, or 0.77 per cent, to 25,685.27 with all sectoral indices led by IT, FMCG, banking and realty leading the fall with losses up to 1.09 per cent.
The Sensex had lost 282.79 points in the previous two sessions.
On similar lines, the National Stock Exchange Nifty dropped below 7,800 mark by falling 76.45 points, or 1.23 per cent, to 7,787.70.
Brokers said persistent selling by participants following hefty losses across Asia and other global markets, as an anticipated revision of the European Central Bank’s stimulus programme fell short of expectations, mainly dampened the sentiments here.
Furthermore, depreciating rupee against the dollar also negatively impacted sentiment, they said.
In the Asian region, Japan’s Nikkei moved down by 1.92 per cent and Hong Kong’s Hang Seng fell 1.23 per cent in early trade today. Shanghai composite index shed 0.74 per cent.
The US Dow Jones Industrial Average plunged 1.42 per cent in yesterday’s trade.