The BSE Sensex dipped below the 35,000-level by plunging around 546 points in opening trade today on heavy losses in metal, realty, capital goods, banking and oil & gas stocks amid a global rout in equity markets.
The BSE 30-share barometer tanked 545.95 points, or 1.55 per cent, to 34,520.80. The gauge had lost 1,216.50 in the previous four sessions following imposition of long-term capital gains of 10 per cent on equities in the Budget 2018.
All sectoral indices led by realty, metal, capital goods, healthcare and bankex were trading in the negative terrain, falling by up to 3.47 per cent.
The NSE Nifty was trading down by 173.80 points, or 1.61 per cent, at 10,586.80.
Asian markets dropped over 1 per cent following deep losses on Wall Street last week after a strong US jobs report and rising Treasury yields fanned fears of interest rate hike quicker than thought.
The laggards were Yes Bank, HDFC Ltd, SBI, Axis Bank, Hero MotoCorp, Bajaj Auto, Tata Steel, Hind Unilver, L&T, M&M, Adani Ports, Kotak Bank and RIL, falling by up to 3.89 per cent.
The rupee depreciated by 16 paise to 64.22 against the US dollar in early trade at the interbank forex market today amid sharp losses in equity markets.
A currency trader said increased demand for the US currency from importers and banks and persistent losses in domestic equity markets weighed on the rupee.
On Friday, the rupee weakened by 4 paise to 64.06 a dollar as forex traders appeared cautious in view of upward revision of fiscal deficit target and the net borrowing for the current fiscal in the Union Budget.
Foreign investors had put in USD 387 million in equity and debt markets on last Friday.
The benchmark BSE Sensex cracked below the 35,000-mark by plunging 545.95 points, or 1.55 per cent, to 34,520.80, while the broader NSE Nifty tumbled 173.80 points,or 1.61 per cent to 10,586.80 in opening trade.
In the Asian region, Hong Kong's Hang Seng fell 1.82 per cent, Japan's Nikkei shed 2.43 per cent, while Shanghai Composite Index down 0.33 per cent in their late morning deals.
The US Dow Jones Industrial Average ended 2.54 per cent lower on Friday.
PTI
