Sensex plunges by 181 points in early trade on Asian cues | business | Hindustan Times
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Sensex plunges by 181 points in early trade on Asian cues

business Updated: Aug 07, 2009 10:52 IST
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Continuing its losing streak for the second consecutive session, the Bombay Stock Exchange benchmark Sensex today fell by 181 points in opening trade on selling by foreign funds and retail investors, tracking other weak Asian markets.

The 30-share index, which had lost nearly 390 points, or 2.45 per cent in yesterday's highly volatile session, lost another 181.16 points, or 1.16 per cent at 15,332.87.

Similarly, the Nifty index on the wide-based National Stock Exchange fell by 50.85 points, or 1.10 per cent at 4,534.65.

Brokers said selling pressure gathered momentum on the domestic bourses largely following a weakening trend on other Asian bourses.

Stocks of auto, metal and realty sectors, which had risen sharply in the recent rally, were under pressure as funds and investors indulged in booking profits at higher levels.

In the auto sector, Mahindra and Mahindra was down by 2.60 per cent at Rs 859, Maruti Suzuki 1.25 per cent at Rs 1,346.90 and Tata Motors 2.70 per cent at Rs 407.

Sterlite Industries, non-ferrous metals producer, traded 2.17 per cent lower at Rs 634, Hindalco lost 1.64 per cent at Rs 101.95 and Tata Steel shed 1.47 per cent at Rs 448.10.