Sensex extends slide for 5th day, tanks 253 points, Nifty below 10,100

According to market observers, investors were cautious ahead of the US Federal Reserve's meet on March 20-21.

Sensex extends slide for 5th day, tanks 253 points, Nifty below 10,100

Mumbai: The benchmark BSE Sensex on Monday cracked below the 33,000-mark by falling nearly 253 points, extending its slide for the fifth straight session on unabated foreign fund outflows amid weak global cues.

Overall market sentiment remained weak after the RBI data released after market hours on Friday showed current account deficit (CAD) rose to 2 percent of the GDP at $13.5 billion in the December quarter, up from 1.4 percent in the year-ago period, due to a higher trade deficit.

The rupee also depreciated by 19 paise intra-day against the dollar at 65.13, which too had a negative influence.

Global cues too were weak as investors moved cautiously before the US Federal Reserve meeting, that is likely to raise US interest rates.

The BSE 30-share barometer opened higher at 33,268.97 and advanced to 33,275.79 in morning trade on value-buying in recently battered stocks by investors.

However, across-the-board profit booking at every rise, pulled it down to a low of 32,856.54.

The 30-share index finally settled down 252.88 points or 0.76 percent at 32,923.12. This is the weakest closing since December 6 last when it settled at 32,597.18.

The gauge lost 741.94 points in the previous four sessions.

The wider NSE Nifty too fell by 100.90 points or 0.99 per cent to end at 10,094.25. It shuttled between 10,224.55 and 10,075.30 during the session.

Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 150.46 crore on Friday, while domestic institutional investors (DIIs) sold shares worth Rs 770.53 crore, as per the provisional data.

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