Zee Media Bureau
New Delhi: The BSE Sensex on Wednesday plunged 722.77 points to end at 26,717.37 whearas the NSE Nifty fell 227.80 points to close at 8,097.
The BSE Sensex and Nifty fell nearly 3 percent to their lowest close so far this year, hit by strong selling on algorithmic trading platforms, while continued offloading by foreign investors amid retrospective tax worries also weighed on sentiment.
Dealers said the sell-off was initially sparked by a slump in NSE index futures listed on the Singapore exchange, which are now trading at a discount to domestic NSE index futures.
Sentiments were weak in the absence of trigger amid host of negative factors in the backdrop of sustained FII outflows.
Overnight drop in US stocks on huge six-year high trade deficits, surging oil prices and growing concerns over Greek debt crises overlapped the sentiments.
Meanwhile, foreign portfolio investors sold shares worth Rs 756.52 crore on Tuesday as per provisional data.
With Agency Inputs
