Sensex down 206 pts in early trade | business | Hindustan Times
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Sensex down 206 pts in early trade

business Updated: Nov 24, 2008 10:45 IST

The Bombay Stock Exchange benchmark Sensex on Monday fell over 206 points in early trade on fresh selling by funds, tracking other Asian markets amid uncertainty over the fate of Citigroup.

The 30-share index, which had gained 464.20 points in the last session, fell by 206.36 points, or almost 2.31 per cent at 8,708.85 after all the sectoral indices, led by banking stocks suffered setback.

Similarly, the wide-based National Stock Exchange's Nifty moved down by 51.80 points, or 1.92 per cent at 2,641.65.

Stock brokers said fall in share prices was mostly attributed to selling by foreign funds and profit-taking at improved levels by retail investors on weakening trends at other Asian equity markets.

Among banking stocks, country's largest lender, State Bank of India fell by Rs 20, or 1.8 per cent at Rs 1,163,ICICI Bank lost Rs 12.40, or 3.90 per cent at Rs 323.15, while HDFC Bank moved down by Rs 49.60, or 5.5 per cent at Rs 807.10.

Other draggers were Reliance Industries, Infosys Technologies, Tata Consultancy, Wipro, Tata Steel, Tata Motors, Larsen and Toubro, DLF Ltd and Grasim Industries.

Meanwhile, Hong Kong' Hang Seng fell by 1.62 per cent, Singapore's index lost 1.20 per cent in early trade while Japan Stock Exchange remained closed for a local holiday.