Sensex plunges 93 points as US Fed hints at December rate hike, Nifty struggles below 8,150

Mumbai: The benchmark BSE Sensex fell over 93 points to slip below the 27,000-mark in early trade on Thursday as participants cut down bets in view of the October series expiry in the derivatives segment amid weak Asian cues.

The 30-share barometer fell 93.42 points, or 0.34 per cent, to 26,946.34 after opening in positive zone. The gauge had lost 431.03 points in the previous three sessions. Losses in FMCG, banking, power, PSU, IT, capital goods and oil&gas stocks dragged the Sensex down.

Also, the NSE Nifty declined 23.65 points, or 0.28 per cent, to 8,147.55. Brokers said squaring-up of positions by participants with today being the last trading session of the October derivatives expiry dampened sentiment.

A weak trend at other Asian bourses after the Federal Reserve hinted at a possible US interest rate hike in December also hit sentiment. Hong Kong's Hang Seng was down 0.39 per cent, Japan's Nikkei fell 0.14 per cent, while Shanghai Composite shed 0.09 per cent in early trade on October 29. The Dow Jones Industrial Average ended 1.13 per cent higher in Wednesday’s trade.

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