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Sensex down 163 points in early trade

The Bombay Stock Exchange benchmark Sensex lost 163 points in early trade on selling by funds in heavyweight stocks.

business Updated: Jul 14, 2008 10:23 IST

Amid ongoing political crisis and rising inflation, the Bombay Stock Exchange benchmark Sensex lost 163 points in early trade on Monday on selling by funds in heavyweight stocks.

The 30-share index, which lost 456.39 points on Friday, fell by another 163.51 points to 13,306.34.

The wide-based National Stock Exchange index's Nifty lost 44.75 points to 4,004.25.

Marketmen said trading sentiments remained bearish after withdrawal of support by the left parties to the ruling UPA government.

They said rising inflation, which surged to 11.89 per cent for the week ended June 28, and weakening global markets were other negative factors triggering major selling.

Major losers, which dragged the Sensex down were Reliance Industries, Ranbaxy, Infosys Technologies, Satyam Computers, Wipro, TCS, State Bank of India, ICICI Bank, HDFC Bank, HDFC Ltd, BHEL, Larsen and Toubro and Reliance Infrastructure.

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