Sensex tumbles over 187 pts on capital outflows, global cues

Sensex tumbles over 187 pts on capital outflows, global cues

Mumbai, Aug 1: Extending losses for the second straight session, the benchmark Bombay Stock Exchange (BSE) Sensex plunged over 187 points in early trade on Friday on increased capital outflows amidst a weak global trend. The 30-share barometer, which had lost 192.45 points in the previous session, fell by 187.69 points, or 0.72 per cent, to 25,707.28.

All the sectoral indices, led by realty, metal, power and banking, were trading in negative territory with losses up to 1.91 per cent. Similarly, the National Stock Exchange index Nifty slipped below the 7,700-mark by falling 57.90 points, or 0.75 per cent, to 7,663.40.

Brokers said, “A subdued trend at other Asian markets in line with overnight losses in the US market on weak eurozone data and as news of Argentina’s debt default and a rise in US jobless claims shook the market, mainly dampened the trading sentiments here.” “ Besides, a weakening rupee that depreciated by another 22 paise against the dollar to trade at over three-month low of 60.77 in early trade Friday had a negative impact on the sentiment”, they added.

Among other Asian markets, Japan’s Nikkei was down 0.70 per cent, while Hong Kong’s Hang Seng shed 0.66 per cent in early trade. The US Dow Jones Industrial Average ended 1.88 per cent down in Thursday’s trade.