Sensex extend losses, down 55 points in opening trade | business | Hindustan Times
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Sensex extend losses, down 55 points in opening trade

The BSE benchmark Sensex extended losses and fell by nearly 55 points in opening trade today to hit a two-year low of 15,645.22, as funds and retail investors offloaded their positions in the absence of any positive cue.

business Updated: Nov 24, 2011 13:23 IST

The BSE benchmark Sensex extended losses and fell by nearly 55 points in opening trade on Thursday to hit a two-year low of 15,645.22, as funds and retail investors offloaded their positions in the absence of any positive cue.

A weakening trend on other Asian bourses in line with overnight losses at the US market, also impacted the trading sentiment.

The 30-share BSE Sensex fell by 54.75 points, or 0.35%, to trade at a fresh two-year low of 15,645.22.

Similarly, the wide-based National Stock Exchange Nifty index declined by 11.30 points, or 0.24%, to trade at 4,695.15.

Brokers said the market sentiment remained distinctly bearish as funds and retail investors engaged in offloading stocks on concerns over high inflation, slowing growth and a depreciating rupee.

In addition, a weakening trend on the global markets on worries over slow growth also dampened the trading sentiment here.

In the Asia region, Hong Kong's Hang Seng index was trading 0.79% lower, while Japan's Nikkei shed 1.51% in morning trade today. The US Dow Jones Industrial Average lost 2.05% in yesterday's trade.