Mumbai: In eight day long losing streak on Monday, the BSE benchmark Sensex fell below the 16,000 level for the first time in six weeks, losing over 425 points on heavy foreign fund outflows amid depreciating rupee and weak global markets. (Agencies)
The Bombay Stock Exchange 30-scrip index, Sensex, which had lost nearly 1,200 points in last seven straight sessions, plunged further by 425.41, or 2.60 percent to 1,5946.10, the first dip below 16,000 after October 5.
Similarly, the broad-based National Stock Exchange 50-scrip index Nifty fell below 4,800 -- down 127.45 points, or 2.60 percent to 4,778.35.
Metals, banking, realty, auto and IT sectors were hit hard as trading sentiment dampened on weak trend in Asia and lower opening in Europe on deepening euro zone debt crisis.
Besides, the rupee hit over 32-month low of 52 against the US dollar on demand from banks and importers, mainly oil refiners weighed.
Reliance Industries, with heaviest weight on the Sensex, fell 2.62 percent and the second heaviest Infosys, by 2.86 percent. The two stocks carry 20 percent weight on Sensex.
BHEL, Bajaj Auto, Bharti Airtel, DLF, HDFC Ltd, HDFC Bank, ICICI Bank, Jindal Steel, Larsen and Toubro, Mahindra and Mahindra, State Bank of India, Tata Consultancy Services and Tata Power were other major losers.
Besides, refiners like Indian Oil, Hindustan Petroleum and Bharat Petroleum lost ground on concerns that the weak rupee will increase the cost of crude imports.
Of 30 Sensex stocks, 28 declined while Maruti Suzuki and Sun Pharma bucked the trend and ended in positive zone. All the 13 sectoral indices ended in the red.
Mumbai: In eight day long losing streak on Monday, the BSE benchmark Sensex fell below the 16,000 level for the first time in six weeks, losing over 425 points on heavy foreign fund outflows amid depreciating rupee and weak global markets.