Sensex extends losses, down 60 pts on US rate hike concerns

Weakening for the third straight session, the benchmark BSE Sensex fell over 60 points in early trade on sustained selling by investors, who seem to be edgy amid rising prospects of US interest rate hike this year.

The BSE 30-share barometer declined by 60.39 points, or 0.21 per cent, to 27,721.86 with teck, realty, IT, healthare, capital goods and power were trading in negative zone, falling up to 0.90 per cent. It had lost 274.69 points in the previous two sessions.

Also, the NSE Nifty was trading down by 11.10 points, or 0.13 per cent, at 8,561.45.

Brokers said that apart from continuous selling by investors, a mixed trend at other Asian markets with US Fed chief Janet Yellen suggesting that interest rates could be raised this year also added to the weakening sentiment.

Japan’s Nikkei was up 2.24 per cent while Hong Kong’s Hang Seng fell 0.33 per cent in early trade today. The Shanghai Composite Index edged up by 0.04 per cent.

The US Dow Jones Industrial Average ended 0.29 per cent lower in Friday’s trade.