Sensex down 50 points on stocks selling

The BSE Sensex fell sharply by over 50 points in early trade on Wednesday on fresh spell of selling by funds in line with weakening Asian markets.

The Bombay Stock Exchange benchmark Sensex fell sharply by over 50 points in early trade on Wednesday on fresh spell of selling by funds in line with weakening Asian markets.

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The 30-share index, Sensex, which had gained over 110 points in previous day's trading, lost 50.54 points at 14,457.67 points in first five minutes of trade.

Similarly, the wide-based National Stock Exchange fell by 21.40 points at 4,271.85 points.

Stock brokers said reports of weakening trends at China's stock market after its government raised a tax on stock trades to cool boom in the market, dampened the trading sentiments and triggered selling by funds.

The benchmark Shaghai Composite Index plunged 5.71 per cent in early trade.