Sensex plunges 274 points on geopolitical tensions

Sensex plunges 274 points on geopolitical tensionsMumbai - Extending losses for the third straight session, the benchmark BSE Sensex fell over 274 points in early trade today on sustained selling by funds amidst weak global trend as geopolitical tensions worsened in Iraq and Russia.

Besides, fresh weakness in the rupee had negative impact.

The 30-share barometer, which had lost 319 points in the past two sessions, tanked 274.28 points, or 1.07 percent, to 25,314.73.

All the sectoral indices, led by banking, PSU and oil and gas were trading in negative zone with losses up to 1.63 percent.

Similarly, the National Stock Exchange index Nifty dipped below the 7,600-mark by falling 83.35 points, or 1.09 percent, to 7,565.90.

Brokers said a subdued trend in Asian trade on overnight losses in the US markets after geopolitical tensions worsened in Iraq and Russia, dampened the trading sentiments here.

Meanwhile, the rupee fell sharply by 38 paise to Rs 61.60 against the US dollar in early trade today.

Among other Asian markets, Japan's Nikkei tumbled three percent, while Hong Kong's Hang Seng shed 0.33 percent in early trade.

The US Dow Jones Industrial Average ended 0.46 percent down in yesterday's trade. (PTI)