MUMBAI
: The sensex slid over 600 points in early trade on Tuesday due to profit taking and finally settled the session 379 points down at 71,892. Most Asian markets showed a weak trend during the day after data from China showed continuing stress in the world’s second largest economy, market players said.
According to Vinod Nair, head of research at Geojit Financial Services, the market extended Monday’s last hour’s sell-off, taking negative cues from Asian peers due to weak Chinese manufacturing data and mounting tensions in the Red Sea, which have the potential to disrupt global trade and crude supplies.”Ahead of the impending results season, investors are adopting a profit booking strategy,” Nair added.