Sensex slides 151 points in early trade
The BSE benchmark Sensex, which had gained 81.40 points in the previous session, has fallen by 151.84 points to 17,283 in early trade.Updated: May 20, 2008, 10:54 IST
The Bombay Stock Exchange benchmark Sensex on Tuesday moved down by over 151 points in early trade on heavy selling by funds in index-related stocks.
The 30-share index, which had gained 81.40 points in the previous session, fell by 151.84 points to 17,283.10 in the first five minutes of trade.
Similarly, the wide-based National Stock Exchange index Nifty fell by 40.75 points to 5,116.95.
Marketmen said that in absence of any encouraging factor, funds were indulged in selling in front-line stocks, pulling the Sensex down.
Major losers were ACC, Reliance Industries, Reliance Infrastructure, Larsen and Toubro, Bharti Airtel, Punjab National Bank, Unitech, DLF, TCS, Wipro and Hindalco.
However, metal stocks such as Sterlite Industries and SAIL were in positive zone on the back of strong fundamentals.