Sensex slips below 10k in opening trade

March 30th, 2009 - 12:46 pm ICT by ANI  

Sensex New Delhi, Mar. 30 (ANI): The Bombay Stock Exchange benchmark Sensex has plunged below 10,000 points by losing 250.43 points in opening trade due to profit-selling by funds amid weak trends on the global markets.

The 30-share Sensex, which had gained nearly 1,070 points, or 12.06 per cent in last week, slipped by 251.43 points, or 2.45 per cent in opening trade as funds and retail investors preferred to book profits at prevailing attractive levels.

All the sectoral indices were trading in negative zone with losses up to 3.48 percent.

Subsequently, National Stock Exchange’s Nifty fell by 70.20 points, or 2.02 per cent to 3,038.45 points.

Apart from profit taking, weakness on the other Asian equity markets also triggered selling on the domestic bourses, stockbrokers said.

Approaching financial year-end is also considered to be a cause of increasing selling activity.

Banking index suffered the most among sectoral indices with a fall of 3.48 per cent to 4,661.11.

Among the Sensex scrips, ICICI Bank is the biggest loser. It has plunged 4.8 per cent in early trade. Sterlite, Tata Steel, JP Associates and Infosys are the other main losers in the pack, down more than 3.8 per cent each.

Other losers are Infosys Technologies by 3.81 per cent to Rs 1295.50, Reliance Industries by 2.18 per cent to Rs 1,514.30, Reliance Infra by 4.43 per cent to Rs 542.15, Sterlite Industries by 4.69 per cent to Rs 356.40 and Tata Steel by 4.61 per cent to Rs 213.20.

Meanwhile, Hong Kong’s Hang Seng and Japan’s Nikkei were down up to 3 per cent in early trade on Monday. (ANI)

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