Sensex tanks over 200 pts on weak Asian cues
The Bombay Stock Exchange benchmark Sensex fell over 200 points in early trade on Monday, extending its losing streak for the third session, on increased capital outflows by foreign funds tracking other weak Asian markets.business Updated: Jun 15, 2009 10:51 IST
The Bombay Stock Exchange benchmark Sensex fell over 200 points in early trade on Monday, extending its losing streak for the third session, on increased capital outflows by foreign funds tracking other weak Asian markets.
The 30-share index, which has lost nearly 230 points in the last two sessions, fell by another 201.57 points to 15,036.37 in the first five minutes of trade.
Similarly, the wide-based National Stock Exchange moved down by 60.45 points, or 1.5 per cent, to 4,522.95.
Stock brokers said reports of weakening trend at the Asian markets, slipping from almost eight-month highs struck earlier this month, and profit-bookings at prevailing levels by retail investors, mainly dampened the trading sentiment.
Major losers, which dragged the Sensex down, were metals, realty, consumer durables and banking stocks.
Among metal stocks, Sterlite Industries fell 5.44 per cent to Rs 679, Tata Steel 1.62 per cent to Rs 448.40, SAIL by 2.15 per cent to Rs 166.35, Jindal Steel 2.02 per cent to Rs 2,465.50 and JSW Steel by 4.21 per cent to Rs 676.90.
Further, Reliance Industries lost 1.44 per cent at Rs 2,322.80, Reliance Infra by 1.62 per cent at Rs 1,160, RCom by 1.13 per cent at Rs 328.05, DLF Ltd by 1.64 per cent at Rs 362.45 and Larsen and Toubro by 2.21 per cent at Rs 1,547.40.
Meanwhile, Hong Kong's Hang Seng index is trading down by 1.5 per cent and Japan's Nikkei by 0.95 per cent.