Continuing its losing streak for the third session in a row, the Bombay Stock Exchange benchmark index, Sensex, fell further by over 158 points in opening trade on Wednesday on increased capital outflows by funds, triggered by weakening trends in global markets.
The BSE-30 share benchmark Sensex, which had lost more than 370 points, or 2.3 per cent in the past two sessions, lost another 158.51 points, or 1.01 per cent at 15,392.68 in opening trade. Similarly, the Nifty index on the wide-based National Stock Exchange moved down by 4,576.60 points, or 1.1 per cent to 4,576.60.
Brokers said selling pressure gathered momentum on the domestic bourses largely in line with weakening trend on the global markets on uncertainty over the US financial sector. Stocks of metal firms continued to face pressure after copper and other base metals melt down in global markets.
Sterlite Industries stocks remained under pressure and fell further by 1.36 per cent to Rs 646.90, while Tata Steel traded 0.42 per cent lower at Rs 415.70. Other losers which dragged the Sensex down were Reliance Industries by 0.62 per cent to Rs 1969.70, Infosys Technologies by 0.12 per cent to Rs 2,140, ICICI Bank by 1.41 per cent to Rs 734.20, ITC Ltd by 0.80 per cent to Rs 226 and Wipro by 0.63 per cent to Rs 555.50.
The Japan's Nikkei fell sharply by 2.82 per cent, while Hong Kong's Hang Seng fell 1.91 per cent in the morning trade today, while the US Dow Jones Industrial Average ended 1.96 per cent down in Tuesday's trade.