New Delhi: Continuing with its slide, the benchmark Sensex lost another 48 points in early trading on Tuesday on the Bombay Stock Exchange on sustained selling by funds in line with weak Asian markets.
After the lacklustre performance in the last couple of trading session on the back of profit booking and lack of convincing trigger, the markets opened on weak note on Tuesday with moderate losses.
IT and cement stocks were trading in red in the opening trade, however the pharma and metals stocks were looking strong. Market breadth was slightly negative.
At 0956 hrs, IST, the Sensex was down 39 points at 13839 and Nifty was down 17 points at 4093. Major gainers in the opening trade were Rel Comm, Tata Steel, maruti, Ranbaxy, Dr. Reddys Lab, Hindalco, NTPC. However, Infosys, Wipro, Satyam, Tech Mahindra, ACC, Grasim, Ambuja and Reliance were trading low.
The 30-share Sensex, which had lost nearly 200 points in the last two sessions, fell by 48.57 points at 13,830.68 in the first five minutes of trading.
Similarly, on the wide-based National Stock Exchange, Nifty fell by 21.15 points at 4,096.20.
Stock observers said reports of weak trends at other Asian markets mainly triggered selling by funds on the domestic bourses.
They said overnight weakness in Indian companies' ADRs at the US markets too had its shadow on the trading sentiments. Major losers were Reliance Industries, Wipro, Grasim Industries, HDFC Ltd, BHEL and Ambuja Cement.
Asian markets
Asian stocks were trading lower on Tuesday. Japan's Nikkei was down 0.12 per cent or 21.83 points at 17,648, Hong Kong's Hang Seng plunged 0.29 per cent or 61.54 points at 20,835.10, Taiwan's Taiwan Weighted declined 0.21 per cent or 17.28 points at 8,097.99, Singapore's Straits Times tumbled 0.21 per cent or 7.27 points at 3,470.32, South Korea's Seoul Composite was flat at 1,584.16.
With agency inputs
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