Mumbai: Extending losses for the second straight session, the benchmark BSE Sensex fell over 100 points in early trade on Thursday on sustained capital outflows amidst a weak global trend.
Besides, a widening trade deficit to 18-month high in September influenced market sentiments.
The 30-share barometer, which had lost 34.74 points in the previous session on Tuesday, lost another 100.86 points, or 0.38%, to 26,248.47 with metal, oil and gas, capital goods, power and consumer durables sectors, leading the fall.
Markets remained closed on Wednesday on account of Assembly elections in Maharashtra.
Similarly, the National Stock Exchange index Nifty fell by 27.55 points, or 0.35%, to 7,836.45.
Brokers said apart from continued capital outflows by foreign funds, a weak trend at other Asian markets in line with overnight losses in European and the US markets due to worries over the global economy, mainly dampened the trading sentiments.
Meanwhile, India’s exports grew marginally by 2.73% in September, but a surge in gold imports pushed the trade deficit to about 18-months high of $14.2 billion.
Among other Asian markets, Japan’s Nikkei was down 2.35%, while Hong Kong’s Hang Seng shed 0.98% in early trade.
The US Dow Jones Industrial Average ended 1.06% down in Wednesday’s trade.