Sensex plunges 375 points in early trade amid weak global markets

Mumbai: The equity benchmark fell for a third straight day on Tuesday, with the Sensex tumbling 375 points in early trade, tracking weak global markets as investors remained cautious ahead of the outcome of the Federal Reserve meeting.

The continued outflow of foreign funds weighed on the domestic equity market.

The benchmark 30-stock BSE was trading 374.72 points lower at 52,471.98. Nifty fell 100.15 points to 15,674.25.

From the Sensex package, Asian Paints, Tech Mahindra, IndusInd Bank, HDFC Bank, Titan and HDFC were the main bottlenecks in early trading.

On the other hand, Bharti Airtel, Power Grid, NTPC, M&M and Bajaj Finserv are among the winners.

Elsewhere in Asia, markets in Seoul, Tokyo, Hong Kong and Shanghai traded lower in mid-session deals.

Stock markets in the US ended sharply lower on Monday.

The 30-share BSE Sensex fell 1,456.74 points, or 2.68 percent, to settle at 52,846.70 on Monday. Nifty slumped 427.40 points, or 2.64 percent, to 15,774.40.

“The Fed is scheduled to make its next policy announcement on Wednesday and investors will be very focused on any clues on how aggressively the central bank will be in raising interest rates,” said Mohit Nigam, Head – PMS, Hem Securities.

Meanwhile, international crude benchmark Brent fell 0.02 percent to $122.24 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, as they sold shares worth Rs 4,164.01 crore Monday, as per exchange data.

Leave a Comment