Sensex drops below 26,000-level, down by 312 points in early trade

Mumbai: The benchmark BSE Sensex tanked over 312 points to fall below the 26,000-level in early trade today  due to profit booking by investors amid mixed Asian cues.  Caution ahead of expiry of contracts in the derivatives  segment tomorrow also influenced sentiments. The 30-share barometer plunged 312.59 points or 1.20 per  cent to 25,719.79 in early trade. 

The index had risen by 290.82 points in yesterday's highly  volatile trade after the government said it's considering  reconvening a special session of Parliament for passage of the  stalled GST bill.  All the sectoral indices led by realty, IT, auto and power  were trading in the negative zone, falling up to 1.73 per  cent.  Also, the NSE Nifty fell below the 7,800-mark by losing  81.05 points or 1.03 per cent to 7,799.65 in early trade.

Brokers said investors booked profit after yesterday's  gains pushing the indices down.  Among Asian markets, Shanghai composite was quoting 0.80  per cent higher after China cut interest rates in a bid to  shore up confidence in the world's number two economy and end  a stock market slump.  Hong Kong's Hang Seng was down by 0.36 per cent, while  Japan's Nikkei up by 0.40 per cent in early trade today.  The Dow Jones Industrial Average ended 1.29 per cent  lower in yesterday's trade after staying in the positive zone  for much of the day.