Sensex opens 92 points lower on selling pressure
The Bombay Stock Exchange benchmark Sensex today opened over 91 points lower on selling triggered by weak global cues, with metal and financial sectors leading the fall.business Updated: Jun 25, 2010 10:34 IST
The Bombay Stock Exchange benchmark Sensex on Friday opened over 91 points lower on selling triggered by weak global cues, with metal and financial sectors leading the fall.
The 30-share index, which had lost 25.70 points in the previous session, opened 91.64 points, or 0.51 per cent lower, at 17,638.60 points.
The wide-based National Stock Exchange (NSE) index Nifty also shed 30.25 points, or 0.56 per cent, to trade at 5,290.35 points.
Brokers said selling by funds as well as retail investors in bluechip stocks following overnight losses in the US markets and a weak opening on the Asian bourses mainly dragged the Sensex down.
Shares of the country's most valued firm Reliance Industries opened at Rs 1,046, down 0.50 per cent, while those of software major Infosys Technologies declined 0.85 per cent to Rs 2,794 in early trade.
Metal stocks like Sterlite Industries fell 0.86 per cent to Rs 172.40, Tata Steel shed 0.77 per cent to Rs 494.20 and Hindalco lost 0.17 per cent to trade at Rs 150.50.
State Bank of India (SBI) shares drifted lower by 0.51 per cent to Rs 2,344.35, while ICICI Bank's stocks moved down 1.15 per cent to Rs 874.70.
Among the Asian bourses, Japan's stock exchange Nikkei was trading 1.45 per cent lower, while Hong Kong's Hang Seng was flat in early trade.
Meanwhile, the US Dow Jones Industrial Average ended 1.41 per cent weaker yesterday at 10,152.80 level.