Zee Media Bureau
New Delhi: The BSE benchmark Sensex dipped below the 26,000-mark by falling over 400 points in afternoon trade Monday, pulled down mainly by financial stocks.
The 30-scrip was last quoted 420.17 points or 1.61 percent lower at 25.730.07 after moving in range of 26,270.28-25,719.67.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) was trading 155.05 points or 1.92 percent lower at 7,919.05.
As per experts, prevailing cash crunch following the government's demonetisation decision has severely impacted the market sentiment.
In Asia, indices were on the defensive today undermined by fears that the strength in the US dollar and rising US bond yields since Donald Trump`s election to president could accelerate fund outflows from emerging markets.
MSCI's broadest dollar-based index of Asia-Pacific shares outside Japan dipped 0.1 percent, staying near four-month lows. In local currency terms, many markets are up slightly.
Japan`s Nikkei rose 0.5 percent to hit a 10-1/2-month high thanks to a weaker yen.
Trump`s unexpected election victory has led to a major repricing of assets, with investors rushing to buy US stocks and the dollar, while dumping bonds and emerging market assets.