Assembly Election Results Effect? Sensex Dips 133 Points

19/05/2016 11:32 AM IST | Updated 15/07/2016 8:26 AM IST
Mint via Getty Images
MUMBAI, INDIA JUNE 2: A view of Bombay Stock Exchange, which recorded sensex falls to near three-month lows on global risk-off on June 2, 2015 in Mumbai, India. (Photo by Aniruddha Chowdhury/Mint via Getty Images)

MUMBAI -- The benchmark BSE Sensex lost 133 points to 25,571.97 in early trade today on sustained fund outflows amid weak trend at other Asian markets. Meanwhile, the election result counting for five states are underway.

Mamata Banerjee-led TMC has surged ahead of the Left-Congress alliance in West Bengal, BJP was ahead in Assam while AIADMK and LDF were leading their rivals in Tamil Nadu and Kerala, according to early trends as the counting of votes began for four state Assembly polls.

Follow our live blog on election results here.

Besides, depreciating rupee to a two-month low of 67.20 against the US dollar also had a bearing on the sentiment.

The 30-share index fell 132.64 points or 0.51 per cent to 25,571.97 with sectoral indices led by teck, FMCG, banking, IT, PSU, metal and oil&gas, were trading in the negative territory with losses up to 0.42 per cent.

The gauge had lost 69 points in the previous session.

The 50-share NSE Nifty also dropped by 40.60 points or 0.51 per cent to 7,829.55.

Brokers said continued selling by participants, tracking a weak trend in other Asian markets after the minutes of the Federal Reserve's end-April meeting showed the central bank far more bullish about a possible June rate hike than the markets had understood, dampened sentiments.

Among other Asian markets, Japan's Nikkei fell 0.05 per cent while Hong Kong's Hang Seng shed 0.44 per cent in early trade today.

The US Dow Jones Industrial Average closed 0.02 per cent lower in yesterday's trade.

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