Sensex tanks 229 points in early trade on weak global cues

The Bombay Stock Exchange benchmark Sensex fell over 229 points in early trade on Wednesday on weak global cues as investors worldwide feared about the eurozone's economic stability.

The Bombay Stock Exchange benchmark Sensex fell over 229 points in early trade on Wednesday on weak global cues as investors worldwide feared about the eurozone's economic stability.

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The 30-share index, which had lost over 54 points in the previous sessions, fell further by 229.27 points, or 1.29 per cent to 17,461.35.

All the sectoral indices, led by metal, realty, consumer durable and oil and gas, were trading in the negative zone, with losses up to 1.81 per cent.

The wide-based National Stock Exchange index Nifty also dipped 74.00 points, or 1.39 per cent to 5,234.35.

Stock brokers said sentiment on the domestic bourses was dampened as US stocks tumbled overnight after rating agency Standard & Poor's downgraded the ratings for Greece and Portugal, raising doubts about euro-zone economic stability.

Besides, tomorrow's monthly expiry in the derivatives segment too had a negative impact as participants were seen off-loading there pending positions, they added.

Reliance Industries fell by 1.96 per cent to Rs 1,040.35,Infosys Technologies by 1.05 per cent to Rs 2,712.90, Tata Steel by 2.24 per cent to Rs 632.95, Sterlite Industries by 1.81 per cent to Rs 814.20, Maruti Suzuki by 1.08 per cent to Rs 1,269.30 and State Bank of India by 0.59 per cent to Rs 2,203.