The benchmark BSE Sensex cracked below the 26,000-mark by plunging over 608 points and the NSE Nifty dipped below 7,800-level in opening trade today on major sell-off by participants following the BJP-led NDA’s defeat in Bihar assembly polls.Besides, lower-than-expected quarterly earnings by some more bluechip companies dampened trading sentiments.

Falling for the fourth straight session, the 30-share index dipped below the crucial 26,000-level by tumbling 608.34 points, or 2.31 per cent, to 25,656.90. The gauge had cumulatively lost 325.35 points in previous three days. On similar lines, the National Stock Exchange Nifty slipped below the 7,800—level by losing 180.55 points, or 2.26 per cent, to 7,773.75.All the sectoral indices, led by healthcare, realty and capital goods, were trading in the negative zone with losses up to 3.38 per cent.

Brokers said sentiments turned distinctly weak following defeat of the BJP-led NDA in the Bihar assembly polls which would negatively impact reforms drive, triggering all-round selling.Among other Asian markets, Hong Kong’s Hang Seng was up by 0.27 per cent, while Japan’s Nikkei gained 2.14 per cent in morning trade.The US Dow Jones Industrial Average ended 0.26 per cent higher in Friday’s trade.

Source: http://www.thehindu.com/business/markets/sensex-crashes-608-points-on-ndas-defeat-in-bihar-polls/article7860753.ece

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