Wednesday, August 4, 2021
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Sensex dips below 26K-mark, tanks over 400 points

The benchmark BSE Sensex fell over 400 points to dip below the 26,000-mark in closing hour of  trade Tuesday on the last trading session of the Samvat Year 2071, extending losses for the fifth consecutive day on increased capital outflows amid a weakening trend in global markets.

Besides, muted Q2 earnings posted by some blue chip companies dampened sentiments.

The 30-share index dropped by 250.47 points, or 0.96 per cent, at 25,870.93 with metal, oil & gas, IT, tech, PSU and banking sector stocks, leading the slide.

In a similar fashion, the broad-based National Stock Exchange index Nifty slipped below the 7,800-level by losing 135.80 points, 1.72 per cent, at 7,779.40.

Brokers said sentiments remained bearish on sustained foreign fund outflows and a weak trend at other Asian markets, tracking overnight losses at the US markets as poor Chinese data and a fall in crude oil prices weighed on the market.

Among other Asian markets, Hong Kong’s Hang Seng was down 0.85 per cent, while Japan’s Nikkei shed 0.75 per cent in early trade today. Shanghai Composite index dropped 0.81 per cent.

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