Sensex losses mount after Brexit adds to anxiety

Mumbai: The benchmark BSE Sensex dropped around 99 points in early trading today on sustained selling by funds and retail investors, extending Friday's sharp losses caused by Britain's decision to leave the European Union.

Mixed Asian cues influenced trading sentiment. Falling for the second straight session, the BSE 30-share barometer tanked 98.84 points, or 0.37 per cent, to 26,298.87.

It had tumbled 604.51 points in the previous session on Friday, hit by the Brexit impact. All sectoral indices led by realty, metal and capital goods were in the red. Also, the NSE Nifty was trading down by 49.25 points, or 0.60 per cent, at 8,039.35.

Brokers said that apart from continuous selling by investors and sustained foreign fund outflows, Friday's deep losses at the US markets led to a further slide in the Sensex.

Besides, there was a mixed trend in Asia as shares struggled to shake off the deep uncertainty caused by the shock Brexit vote. Japan's Nikkei was up 2.05 per cent while Hong Kong's Hang Seng fell 0.79 per cent in early trade today.

The Shanghai Composite Index surged 0.86 per cent. The US Dow Jones Industrial Average tumbled 3.39 per cent in Friday's trade.