Sensex plummets 263 points on weak data, global cues

On similar lines, the NSE Nifty cracked below 8,100-level by falling 79.10 points or 0.96 percent to 8,090.95.

PTI| Last Updated: Jun 13, 2016, 10:23 AM IST
Sensex plummets 263 points on weak data, global cues

Mumbai: The benchmark BSE Sensex fell by over 263 points and the NSE Nifty dipped below the 8,100-mark in early trade as investors cut down their bets on disappointing macroeconomic data and weak trend in Asian markets.

The 30-share barometer dived by 263.24 points or 0.98 percent at 26,372.51 with all the sectoral indices led by capital goods, banking and auto in the red, falling up to 1.34 percent. It had lost 384.91 points in the previous two sessions.

On similar lines, the NSE Nifty cracked below 8,100-level by falling 79.10 points or 0.96 percent to 8,090.95.

Brokers said market mood took a hit after a government data, which was released after trading hours on Friday showed industrial output contracted by 0.8 percent in April, the first decline in three months, due to drastic fall in capital goods production and manufacturing activities.

Meanwhile, inflation data, is slated for later in the day.

A weak trend in other Asian markets in line with sell-off in the US and Europe on Friday, on renewed worries about the global economy and uncertainty over Britain's future in the European Union, also dented sentiment here, brokers said.

Caution also prevailed ahead of the US Federal Reserve meeting next week, they added.

Hong Kong's Hang Seng was down 2.56 percent, Shanghai's Composite index fell 0.67 percent while Japan's Nikkei shed 2.61 percent in their early trade.

Meanwhile, the US Dow Jones Industrial Average ended 0.67 percent lower in Friday's trade.