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Sensex falls on capital outflows, global cues

Mumbai: Extending losses for the second straight session, the benchmark BSE Sensex fell lover 100 points in early trade today on sustained capital outflows amidst a weak global trend.Besides, a widening trade deficit to 18-month

PTI [ Updated: October 16, 2014 10:25 IST ]
sensex falls on capital outflows global cues
sensex falls on capital outflows global cues

Mumbai: Extending losses for the second straight session, the benchmark BSE Sensex fell lover 100 points in early trade today on sustained capital outflows amidst a weak global trend.

Besides, a widening trade deficit to 18-month high in September influenced market sentiments.

The 30-share barometer, which had lost 34.74 points in the previous session on Tuesday, lost another 100.86 points, or 0.38 per cent, to 26,248.47 with metal, oil & gas, capital goods, power and consumer durables sectors, leading the fall.

Markets remained closed yesterday on account of Assembly elections in Maharashtra.

Similarly, the National Stock Exchange index Nifty fell by 27.55 points, or 0.35 per cent, to 7,836.45. Brokers said apart from continued capital outflows by foreign funds, a weak trend at other Asian markets in line with overnight losses in European and the US markets due to worries over the global economy, mainly dampened the trading sentiments here.

Meanwhile, India's exports grew marginally by 2.73 per cent in September, but a surge in gold imports pushed the trade deficit to about 18-months high of USD 14.2 billion.

Among other Asian markets, Japan's Nikkei was down 2.35 per cent, while Hong Kong's Hang Seng shed 0.98 per cent in early trade.

The US Dow Jones Industrial Average ended 1.06 per cent down in yesterday's trade.

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