MUMBAI: The benchmark BSE Sensex extended losses for a second straight day and cracked below 24,000-mark by tumbling almost 374 points in early deals on sustained capital outflows by foreign funds and selling by retail investors.

There were no surprises on the growth front as a government data on Monday showed that Indian economy grew 7.3pct in October-December quarter of 2015-16.

The depreciating rupee against the dollar also influenced the weak sentiment in equity markets today.

The 30-share index plunged by 373.95 points or 1.53 pct to 23,919.47. The gauge had lost 329.55 points in the previous session.

In a similar fashion, the NSE Nifty fell below 7,300-mark by losing 106.55 points or 1.44 pct to 7,280.55.

All sectoral indices led by IT, teck, bank and metal are trading in negative zone with losses up to 3.02 pct.

Brokers said the sentiment remained weak in the absence of any positive triggers amid sustained capital outflows by foreign funds.

Besides, a weak trend in other Asian markets following overnight losses in the U.S. with oil prices tanking on fears of a deepening economic slowdown also weighed on the equity markets on Tuesday.

In the Asian region, Japan's Nikkei plunged 5.40 pct in early trade, while China's Shanghai Composite index and Hong Kong's Hang Seng remained closed for the week-long Chinese new year holiday.

The Dow Jones Industrial Average ended 1.10 percent lower in Monday's trade.

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