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Sensex extends losses, down over 34 pts in early trade


Mumbai:  After yesterday’s plunge, the benchmark BSE Sensex fell further by over 34 points in early trade today due to continued selling by participants amid mixed Asian cues.

The 30-share index was trading down by 34.84 points, or 0.12 per cent, at 28,809.94 with stocks of banking, oil & gas, FMCG, and IT sectors causing the fall.

On similar lines, the National Stock Exchange Nifty shed 11.20 points, or 0.13 per cent, at 8,745.55.

Besides, weakness in the rupee which fell to a fresh two-month low of 62.80 against the dollar also dampened the sentiment.

The Sensex had tumbled 604.17 points in the previous session on massive selling in line with global markets on fears of an earlier-than-expected US interest rate hike.

Brokers said sustained selling by participants at prevailing levels and a mixed trend at other Asian markets led to the fall.

Further, a cautious approach ahead of IIP numbers for January and CPI data for February, to be announced on Thursday also influenced trading sentiments, they said.

Among other Asian markets, Hong Kong’s Hang Seng was down 0.11 per cent, while Japan’s Nikkei up by 0.53 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.78 per cent higher in yesterday’s trade.

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