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Sensex dips below 9,000 level

business Updated: Feb 19, 2009 00:14 IST

PTI
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The benchmark Sensex lost another 112 points in early trade on Wednesday, extending weakness for the third session in a row, on heavy selling by funds, taking cues from melting global markets on worsening economic situation.

The Bombay Stock Exchange index, which had lost nearly 600 points in the past two sessions, moved further down by 112.69 points to 8,922.31 in early trade with stocks of the realty, banking and metal sectors suffering major losses.

The 50-share National Stock Exchange Nifty also lost 33.85 points to 2,736.65.

Stock brokers said selling pressure gathered momentum in line with weakening trends in the global markets and lacklustre interim budget on Monday, which failed to provide any major booster to revive the economy.

Major losers, which dragged the Sensex down, are DLF Ltd that fell by 1.52 per cent to Rs 145.60, SBI by 0.41 per cent to Rs 1,095.45, ICICI Bank by 1.53 per cent to Rs 380, HDFC Ltd by 2.28 to Rs 1,399.80, Sterlite Industries by 0.16 per cent to Rs 253.30, BHEL by 0.37 per cent to Rs 1,376 and Grasim Industries by 1.52 per cent to Rs 1,308.