Sensex down over 200 points on weak trend in Asian markets
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The benchmark BSE Sensex fell by over 228 points and the NSE Nifty dipped below the crucial 7,800 mark in early trade on Friday as investors offloaded their positions on disappointing macro data and weak trend in Asian markets.
At 1015 hours was trading down 226.47 points, or 0.88% at 25,640.48.
Asian shares looked vulnerable on Friday after commodity prices plunged to multi-year lows on worries that softer global growth may exacerbate the supply glut, while US Federal Reserve officials kept beating the drum for a rate hike next month.
The 30-share barometer, which gained 123.69 points on the first day of Samvat 2072 in special 'Muhurat' session on Wednesday, was trading lower by 228.41 points or 0.88% at 25,638.54, with all the sectoral indices led by infra, power, banking and realty in the red.
On similar lines, the NSE Nifty slipped below the 7,800 mark by falling 80.75 points or 1.03% to 7,744.25.
Brokers said market mood took a hit after a government data showed that industrial production fell to a four-month low of 3.6% in September due to subdued performance by manufacturing and non-durable consumer goods segments.
Adding to the gloom was inflation, which rose for a third straight month and touched 5% in October.
A weak trend in other Asian markets in line with heavy losses in Europe and the US after commodity prices plunged to multi-year lows on worries that softer global growth may exacerbate the supply glut also weighed on the sentiment here.
Hong Kong's Hang Seng was down 2.09%, Shanghai's Composite index fell 1.01%, while Japan's Nikkei shed 0.89% in their early trade.
Meanwhile, the US Dow Jones Industrial Average ended 1.44% lower on Thursday.
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