Sensex Down 55 Points on Weak Global Cues

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People look at a screen displaying India's Finance Minister Arun Jaitley presenting the budget, on the facade of the Bombay Stock Exchange (BSE) building in Mumbai February 28, 2015. REUTERS/Shailesh Andrade/Files

Mumbai : The benchmark BSE Sensex shed about 55 points and the NSE Nifty slipped below the 8,400-mark in early deals today on sustained capital outflows by foreign funds and selling by retail investors amid weak global cues.

Deprecating rupee against the dollar also added to the dampened sentiment.

The 30-share index dropped 54.57 points or 0.20 per cent to 27,183.49. The gauge had lost 9.10 points in the previous session on Friday.

In a similar fashion, the NSE Nifty fell below 8,400-mark, shedding 21.15 points or 0.25 per cent to 8,379.20.

Sectoral indices led by IT, teck, metal, capital goods and oil&gas were trading in the negative zone with fall of up to 0.96 per cent.

Brokers said that the sentiment remained weak in the absence of any positive trigger amid sustained capital outflows by foreign funds.

Besides, there was a weak trend in other Asian markets after recent gains.

In the Asian region, Japan’s Nikkei fell 0.91 per cent, Hong Kong’s Hang Seng shed 1.11 per cent in early trade.

China’s Shanghai Composite index too plunged 1.40 per cent.

The Dow Jones Industrial Average ended 0.03 per cent lower in Friday’s trade.