Sensex slides 133 points amid weak Asian market trend; to track election results today

Sensex slides 133 points amid weak Asian market trend; to track election results today

The benchmark BSE Sensex lost 133 points to 25,571.97 in early trade on Thursday on sustained fund outflows amid weak trend at other Asian markets.

Besides, depreciating rupee to a two-month low of 67.20 against the US dollar also had a bearing on the sentiment.

The 30-share index fell 132.64 points or 0.51% to 25,571.97 with sectoral indices led by tech, FMCG, banking, IT, PSU, metal and oil & gas, were trading in the negative territory with losses up to 0.42%.

The gauge had lost 69 points in the previous session.

The 50-share NSE Nifty also dropped by 40.60 points or 0.51% to 7,829.55.

At 1014 hours, the benchmark index Sensex was trading at 25,589.89 points, down 114.72 points or 0.45%, whereas Nifty was trading at 7,836.90 points, down 33.25 points or 0.42%.

Brokers said continued selling by participants, tracking a weak trend in other Asian markets after the minutes of the Federal Reserve's end-April meeting showed the central bank far more bullish about a possible June rate hike than the markets had understood, dampened sentiments.

Meanwhile, Mamta Banerjee-led TMC has surged ahead of the Left-Congress alliance in West Bengal, BJP was ahead in Assam while AIADMK and LDF were leading their rivals in Tamil Nadu and Kerala, according to early trends as the counting of votes began for four state Assembly polls.

Among other Asian markets, Japan's Nikkei fell 0.05% while Hong Kong's Hang Seng shed 0.44% in early trade on Thursday.

The US Dow Jones Industrial Average closed 0.02% lower in Wednesday's trade.