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Sensex down 172 points; Nifty dips below 4200

Tracking global markets, Sensex plunged 172 points in early trading on the BSE on massive selling by funds as well as investors.
PTI | By HT Correspondent, Mumbai
UPDATED ON MAY 25, 2007 12:26 PM IST

Tracking global markets, the benchmark Sensex plunged 172 points in early trading on Friday on the Bombay Stock Exchange on massive selling by funds as well as investors.

The BSE-30 share index, Sensex, which had lost over 235 points in the past two sessions, fell by another 172.05 points, or 1.20 per cent, at 14,046.06 in the first five minutes of the trading following a significant fall in heavy-weight stock prices.

Similarly, on the wide-based National Stock Exchange, Nifty fell 63.5 points to go below 4200 points at 4,141.35.

Stock brokers said weakening global stock markets mainly dampened the trading sentiments here, triggering all-round selling by funds as well as retail investors.

They said melting metal prices in the international markets also acted as a negative factor.

Major draggers were Reliance Industries, Infosys technologies, BPCL, Tata Steel, ICICI Bank, State Bank of India, Maruti Udyog and Reliance Communications.

Meanwhile, Suzlon stocks were in good demand after reports of it winning the race for German's REpower. Its shares were up by 3.5 per cent at Rs 1199.50 on BSE.

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