Sensex down 188 points in early trade
The Bombay Stock Exchange benchmark Sensex lost 188 points in early trade on funds selling in heavy-weight stocks, triggered by weak global markets.business Updated: May 21, 2008 11:18 IST
The Bombay Stock Exchange benchmark Sensex on Wednesday lost 188 points in early trade on funds selling in heavy-weight stocks, triggered by weak global markets.
The 30-share index, which had lost 204.76 points on Tuesday, fell further by 188.55 points to 17,041.63 in the first five minutes of trade.
The wide-based National Stock Exchange index's Nifty moved down by 35.10 points to 5,069.85.
Marketmen said reports of weakening trends in global stock markets after oil prices spiked to a new record of more than 129 dollar a barrel and worries of rising inflation, mainly dampened the trading sentiments in Mumbai.
At the US stock markets, Dow Jones Industrial Average plunged 199.48 points, or 1.53 per cent while the tech-heavy Nasdaq composite fell 23.83 points.
Major losers, which dragged the Sensex down were Reliance Industries, BHEL, Sterlite Industries, ACC, HDFC Bank, SAIL, State Bank of India, Wipro and Tata Consultancy.