Sensex sinks over 500 points, Nifty down 188 points on capital outflow concerns

Zee Media Bureau

Mumbai: Benchmark BSE Sensex fell low by over 510 points to end at 226,304.63, while NSE Nifty slides 2.26% lower to close at 8,108.45.

The Sensex crashed for the second day in a row while the rupee also tumbled, on worries about capital outflows as US bond yields surged and the dollar strengthened. 

Strengthening of bond yields and US dollar on US president elect Donald Trump policy, other than demonetisation and government's crusade against corruption also weighed on market sentiment.

Equity benchmarks closed below their 200-daily moving average. The 30-share BSE Sensex tanked 514.19 points or 1.92 percent to 26304.63, the lowest closing level since May 25, taking the total loss in two consecutive days to 1200 points. The 50-share NSE Nifty was down 187.85 points or 2.26 percent to close at 8108.45 after hitting an intraday low of 8093.20.