Sensex plunges over 350 points, Nifty dips below 8,800-mark

The 30-share barometer declined 341.99 points, or 1.19 percent, to 28,326.23, with sectoral indices led by realty, banking and auto accounting for much of the losses.

Last Updated: Sep 26, 2016, 15:14 PM IST
Sensex plunges over 350 points, Nifty dips below 8,800-mark

Zee Media Bureau

Continuing to move south, the BSE Sensex fell over 350 points and the NSE Nifty broke below the 8,800-mark in afternoon trade Monday amid weak global cues.

Sentiment remained downbeat as investors went about booking profits in recent gainers.

The 30-share barometer declined 341.99 points, or 1.19 percent, to 28,326.23, with sectoral indices led by realty, banking and auto accounting for much of the losses.

The index had lost 104.91 points in the previous session on Friday.

Also, the NSE Nifty was trading lower by 99.70 points, or 1.13 percent, at 8,731.85.

Brokers said that apart from profit-booking, a weak trend in Asia on lower oil prices and decline on the Wall Street last week kept the domestic bourses here on a sticky wicket.

World markets dropped today, picking up where they left off after last week`s Fed-inspired rally ran out of steam.

After a burst of enthusiasm on the back of the US central bank`s decision to keep interest rates on hold for a little longer, screens were red across the world -- with the pace of decline sharply quickened.

The stay of execution for easy money served to bolster the Japanese yen, knocking the stuffing out of Tokyo which ended down 1.25 percent.

Hong Kong spent the day in negative territory and its position worsened as the afternoon sawed on. The Hang Seng Index shed 1.6 percent to close at 23,317.92. The news was just as bad in Shanghai, where the benchmark Shanghai Composite Index dropped 1.8 percent to 2,980.43. Sydney closed flat, while Taiwan gave up one percent and Seoul slipped 0.3 percent.