BSE Sensex tanks over 156 points; Nifty dips below 8,200-level

Mumbai :The benchmark BSE Sensex tanked over 156 points and the NSE Nifty dipped below the 8,200-level in early trade today due to sustained selling by participants amid mixed Asian cues.

Caution ahead of expiry of October month contracts in the derivatives segment tomorrow also influenced sentiments.

The 30-share barometer was down by 156.11 points or 0.57 per cent to 27,097.33 in early trade.
The index had lost 217.37 points in the previous two straight sessions.

All the sectoral indices led by banking, realty and capital goods were trading in the negative zone, falling up to 0.94 per cent.

The NSE Nifty slipped below the 8,200-mark by losing 51.90 points or 0.63 per cent to 8,181.00 in early trade.

Brokers said continued selling by investors, taking cues from weak Asian markets following overnight losses at the US markets ahead of a policy statement from the Federal Reserve dampened sentiments here.

Investors are awaiting the US Federal Reserve’s policy statement which could provide clues about the timing of an interest rate hike.

Among Asian markets, Shanghai composite was quoting 0.91 per cent lower, Hong Kong’s Hang Seng shed 0.72 per cent, while Japan’s Nikkei up by 0.60 per cent in early trade today.

The Dow Jones Industrial Average ended 0.24 per cent lower in yesterday’s trade.

The rupee weakened by 12 paise to
65.09 against the dollar in early trade today due to month-end demand for the US currency from importers.

Besides, the dollar’s gain against other currencies overseas and a lower opening in the domestic equity market put pressure on the rupee, forex dealers said.

Yesterday, the rupee ended barely steady at 64.97 per dollar at the Interbank Foreign Exchange market.

Meanwhile, the benchmark BSE Sensex dropped by 156.11 points, or 0.57 per cent, to 27,097.33 in early trade.