Sensex falls over 200 points on weak global cues

TIL Desk/Business/Mumbai/ The BSE benchmark Sensex fell over 200 points in early trade Wednesday following weak global cues amid fresh foreign fund outflows. The 30-share was trading 215.44 points, or 0.61 per cent, lower at 35,259.07 points. The gauge had lost 300.37 points Tuesday. Sectoral indices led by IT, teck, metal, capital goods and power were trading in the negative zone with losses up to 2.70 per cent.The NSE Nifty too was trading 33.80 points, or 0.32 per cent, down at 10,622.40.

Brokers said a weak trend in other Asian markets following extended rout at Wall Street Tuesday on disappointing earnings amid fears over slowing global growth on US-China trade dispute and the steady rise in interest rates, dampened sentiment here. However, crude oil prices dipping to one-year low in global market on supply concerns, capped the fall in the indices.

Shares of aviation and oil marketing companies surged due to sharp drop of nearly 7 per cent in global crude oil prices. Shares of Jet Airways, InterGlobe and Spicejet were trading higher up to 6.59 per cent. Shares of state-run oil marketing companies such as BPCL, IOC and HPCL gained up to 4.21 per cent. Brent crude, the oil prices international benchmark, fell 6.92 per cent to USD 62.17 a barrel on Tuesday on excess supply concerns.