Sensex falls 215 pts in opening trade on weak global cues
The Bombay Stock Exchange benchmark Sensex on Tuesday tumbled over 215 points in opening trading on weak global cues ahead of the monetary policy to be announced by the RBI later in the day.
The 30-share barometer, which had lost 43.59 points yesterday, slumped by 215.42 points, or 1.96 per cent, to 10,764.08 points after banking and realty stocks led the fall.
Similarly, the wide-based National Stock Exchange's Nifty fell by 67.75 points, or two per cent, at 3,309.35.
Marketmen said selling pressure emerged on the domestic markets after an overnight slide on the US markets as concerns grew that credit losses are worsening.
They said, uncertainty over the interest rates cut by the central bank, in its monetary policy to be released today, also weighed on the trading sentiments.
Major losers which dragged the Sensex down were ICICI Bank, down 4.61 per cent at Rs 406.90, State Bank of India by 1.85 per cent to Rs 1,271.95.
Other weak stocks were Reliance Industries, Reliance Infra, DLF Ltd, Tata Steel, Sterlite Industries, Infosys Technologies and Tata Consultancy Services.
Meanwhile, the US down Jones Industrial average closed 3.56 per cent down yesterday, while Hong Kong's Hang seng lost 3.48 per cent and Japan's Nikkei was down 2.82 per cent in early trade on Tuesday.