Sensex down 192 points in early trade
The 30-share index, which had lost over 280 points in the past two sessions, tumbles by 191.75 points to 14,470.86 after heavy-weight stocks led by oil and gas and capital goods sectors suffered sharp losses.business Updated: Sep 11, 2008 10:38 IST
The Bombay Stock Exchange benchmark Sensex continued its losing streak for the third straight session on Thursday and fell by 192 points in early trade on heavy selling by foreign funds and retail investors, triggered by weak global cues and depreciating rupee.
The 30-share index, which had lost over 280 points in the past two sessions, tumbled by 191.75 points to 14,470.86 after heavy-weight stocks led by oil and gas and capital goods sectors suffered sharp losses.
Similarly, the National Stock Exchange's index Nifty moved down by 66.25 points to 4,334.00.
Stock brokers said meltdown in the global stock markets, mainly dampened the trading sentiments in Mumbai.
They said depreciating rupee, which dipped to nearly two-year low of 45.41/45.45 against the US dollar was another dampening factor.
Major losers, which dragged the Sensex down were Reliance Industries, ONGC, Reliance Infra, RCom, Tata Steel, State Bank of India, ICICI Bank, HDFC Bank, BHEL, Larsen and Toubro, Grasim Industries and Tata Power.
Meanwhile, Hong Kong's benchmark Hang Seng index was down by 2.2 per cent, or 442 points down in early trade.