Zee Media Bureau
Mumbai: The 50-share Nifty slipped below 8,000 mark, a level last seen on May 7 while the benchmark BSE Sensex plunged over 350 points at 2pm on Thursday.
Sensex gave up early gains quoting 349 points lower at 26,491 while Nifty slipped over 100 points to trade below the 8,000 mark.
A faltering monsoon making marginal progress after a late onset amid uncertainty about upcoming macro data - IIP for April and CPI for May- also weighed.
The 30-share gauge resumed strong, in line with firm Asian cues, on the back of an overnight sharp rise on the Wall Street following optimism that the Greece may be close to a deal with creditors.
Increased buying after the current account deficit (CAD) narrowed sharply to USD 1.3 billion, or 0.2 percent of GDP, in the fourth quarter too helped.
The Sensex touched a high of 27,000.14, up 159.64 points, or 0.59 percent, before slipping to 26,570.48 at 1132 hours, a loss of 270.02 points, or 1.01 percent.
Yesterday, it had jumped 359.25 points, or 1.36 percent.
Similarly, the broader NSE Nifty moved in a range of 8,163.05 and 8,062.05 before trading at 8,036.80 at 1132 hours, a fall of 87.65 points, or 1.08 percent.
Among Asian markets, Hong Kong, Japan, Singapore and South Korea turned higher while China and Taiwan moved down.
With PTI Inputs
