Wednesday, June 16, 2021
HomeBusinessSensex tumbles over 500 points; Nifty dips below 8,100-level

Sensex tumbles over 500 points; Nifty dips below 8,100-level

The BSE Sensex slipped below the 26,800-mark by falling over 500 points in closing session of trade Tuesday on sustained selling by funds amid weak global cues, tracking plunging crude coupled with depreciating rupee.

The 30-share index last quoted lower by 538.12 points or 1.97 percent to 26,781.44 after moving in range of 26,736.23 – 27,199.37. The gauge had lost 511.54 points in the previous three sessions.

In a similar fashion, the wide-based National Stock Exchange Nifty declined by 152 points, or 1.85 percent, to 8,067.60.

All the sectoral indices, led by metal, FMCG and banking stocks, were trading in the negative zone with losses up to 4.5 percent.

Sustained selling by funds amid weak trend on international bourses in view of falling oil prices that plunged to more than five-year lows dampened the trading sentiment.

Global markets tumbled as a downbeat China factory survey and Russia’s sharp increase in interest rates reinforced concerns about the global economy at a time of sliding oil prices.

Besides, the depreciating rupee which slipped below the 63-mark against the dollar to trade at a fresh 13-month low of 63.54 too weighed on sentiments.

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