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Sensex plunges over 265 plans post US Federal Reserve’s indication of interest rate hikes

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New Delhi :BSE benchmark Sensex fell by over 265 points to trade below the 28,000-mark in early trade on Thursday as the market sentiments weakened after the minutes of the US Federal Reserve’s September meeting indicated a possible rate hike this year.

Weak cues in Asian markets after China’s unexpected exports decline also had a dampening effect on the markets.

The broader NSE Nifty slumped below the 8,700-mark. The 30-share barometer plunged by 265.21 points or 0.94 per cent to 27,817.13. The index had risen by 21.20 points in the previous session on Monday.

Stock Exchanges remained closed on Tuesday and Wednesday on account of “Dussehra” and “Moharum”, respectively. Industrial output remained in the negative for the second month in a row, contracting by 0.7 per cent in August due to slump in manufacturing, mining and capital goods segments.

Sectoral indices led by realty, baking, auto and metal were trading in the negative zone, falling by up to 1 percent.

Among Asian markets, Japan’s Nikkei fell 0.39 per cent, While Hong Kong’s Hang Seng down 1.33 per cent in early trade today. The Dow Jones Industrial Average ended 0.09 per cent higher in yesterday’s trade.

PTI

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