Sensex down 286 pts in early trade on Delhi exit poll forecast

The benchmark BSE Sensex extended losses for the seventh straight day by plummeting over 286 points in early trade today on sustained selling by funds and retail investors amid exit polls showing that the BJP may not be able to form government in Delhi.

Besides, discouraging third quarter earnings by some bluechip companies and weakness in the rupee, dampened trading sentiments.

The 30-share index tumbled by 286.49 points, or 0.99 per cent, to 28,431.42. The gauge had lost 963.86 points in the previous six sessions.

In a similar fashion, the National Stock Exchange Nifty dipped below the 8,600-mark by falling 77.85 points, or 0.90 per cent, to 8,583.20.

All the sectoral indices, led by realty, auto, metal and banking, were trading in the negative zone with losses up to 2.18 per cent.

Brokers said sentiments dampened following exit polls showing that the BJP may not be able to form government in Delhi, accelerating selling pressure.

Besides, the depreciating rupee which slipped below the 62-mark against the dollar to trade at 62.05 and a mixed trend at other Asian markets on poor Chinese data, weighed on sentiments, they said.

Among other Asian markets, Hong Kong's Hang Seng index was down by 0.61 per cent, while Japan's Nikkei index was up by 0.19 per cent in morning trade.

The US Dow Jones Industrial Average ended 0.34 per cent lower in Friday's trade.