Sensex Tumbles Below 19,000 Level; Tanks 423 Points In Early Trade


Sensex Tumbles Below 19,000 Level; Tanks 423 Points In Early Trade

Bangalore: The 30-share index slipped below 19,000 points by plunging 423.05 points, or 2.19 percent, to 18,822.65, with all sectoral indices trading in negative territory with fall up to 3.03 percent. The gauge had gained 22.42 points in the previous session.

The BSE benchmark Sensex tanked over 423 points to dip below 19,000 level in the early trade on all-round selling, triggered by a weakening trend overseas on concerns that inflows to emerging markets may hit after U.S. Fed taper off its stimulus programme later this year.

The 30-share index slipped below 19,000 points by plunging 423.05 points, or 2.19percent, to 18,822.65, with all sectoral indices trading in negative territory with fall up to 3.03percent. The gauge had gained 22.42 points in the previous session.

Similarly, the wide-based National Stock Exchange index Nifty slipped below 5,700 points mark by falling 122.40 points, or 2.10percent, to 5,699.85.

Brokers said sentiments turned bearish largely in line with weak trend in the Asian region following overnight sharp falls at the U.S. market after Federal Reserve Chairman Ben Bernanke said it could start tapering off its massive stimulus programme later this year, triggering major sell-off by funds.

In the Asian region, Hong Kong's Hang Seng index was down 1.52percent, while Japan's Nikkei Index shed 1.08percent in the morning trade.

The U.S. Dow Jones Industrial Average ended 1.35percent lower in yesterday's trade.

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Source: PTI