Sensex trims early losses, still down over 200 points

Zee Media Bureau

The benchmark BSE Sensex trimmed early losses but still traded lower over 200 points in mid-session trade Thursday as investors preferred to book profits after two-session rally on worries over likely delay in Goods and Services Tax.

Capital outflows by foreign funds and a weak trend in other Asian markets also weighed.

Also: Rupee plunges 32 paise at 66.73 against dollar

The 30-share barometer last quoted down by 242.20 points at 25, 477 after plunging 402.98 points or 1.57 percent to 25,316.60. The index had rallied by 825.77 points in the previous two sessions.

All the sectoral indices, led by realty, metal, consumer durables and power were trading in the negative zone.



The NSE index Nifty crashed below the crucial 7,700-mark by plunging 130.55 points or 1.67 percent to 7,688.05.

Brokers said besides profit-booking by speculators and sustained capital outflows by foreign funds, likely delay in the implementation of key GST after the government yesterday gave up plans to reconvene a session of Parliament dampened sentiments.

The government had kept the Monsoon Session alive in hopes of building a consensus on GST, which has been billed as one of the biggest economic reform.

Among other Asian markets, Japan's Nikkei was trading 3 per cent down, Hong Kong's Hang Seng shed 2.36 per cent and Shanghai Composite index was down 0.97 per cent in early trade today.

The US Dow Jones Industrial Average also ended 1.45 per cent lower in yesterday's trade.

With Agency Inputs