Sensex falls 152 points in early trade
Sensex, which rose by over 510 points in the previous two straight sessions, fell by 152.50 points to 11,176.55 with IT, oil and gas, banking and healthcare sector stocks leading the fall.business Updated: Apr 27, 2009 15:37 IST
Snapping a two-session gaining streak, the Bombay Stock Exchange benchmark Sensex on Monday tumbled over 152 points in opening trade on selling by funds, triggered by weak trend in other Asian equity markets.
The 30-share barometer, which rose by over 510 points in the previous two straight sessions, fell by 152.50 points, or 1.11 per cent, to 11,176.55 with IT, oil and gas, banking and healthcare sector stocks leading the fall.
Similarly, the wide-based National Stock Exchange's Nifty fell by 44.80 points, or 1.29 per cent, at 3,435.95.
Marketmen said selling pressure emerged on the domestic markets as other Asian markets fell into the negative zone after initial firmness.
Meanwhile, the BSE Sensex had climbed nearly 30 per cent in the past two months from 8,891.61 points on February 27 to 11,329.05 on April 24.
Stocks of pharma giant Ranbaxy Laboratories plunged by 5.58 per cent to Rs 165.95. Other losers which dragged the Sensex down were Reliance Industries down by 0.31 per cent to Rs 1,779, Infosys Technologies by 1.77 per cent to Rs 1,423, Tata Consultancy by 0.48 per cent to Rs 579.80 and Wipro by 1.25 per cent to Rs 308.
Other losers were State Bank of India down 1.44 per cent to Rs 1,289 and ICICI Bank by 0.81 per cent to Rs 429.
The Hong Kong's Hang seng fell by nearly 3 per cent, while Japan's Nikkei was marginaly down by 0.30 per cent in early trade todayon Monday.