Sensex opens 92 points lower on selling pressure

STOCKS-OPEN

Mumbai, June 25 (PTI) The Bombay Stock Exchange benchmark
Sensex Friday opened over 91 points lower on selling triggered
by weak global cues, with metal and financial sectors leading
the fall.
The 30-share index, which had lost 25.70 points in the
previous session, opened 91.64 points, or 0.51 per cent lower,
at 17,638.60 points.
The wide-based National Stock Exchange (NSE) index Nifty
also shed 30.25 points, or 0.56 per cent, to trade at 5,290.35
points.
Brokers said selling by funds as well as retail investors
in bluechip stocks following overnight losses in the US
markets and a weak opening on the Asian bourses mainly dragged
the Sensex down.
Shares of the country's most valued firm Reliance
Industries opened at Rs 1,046, down 0.50 per cent, while those
of software major Infosys Technologies declined 0.85 per cent
to Rs 2,794 in early trade.
Metal stocks like Sterlite Industries fell 0.86 per
cent to Rs 172.40, Tata Steel shed 0.77 per cent to Rs 494.20
and Hindalco lost 0.17 per cent to trade at Rs 150.50.
State Bank of India (SBI) shares drifted lower by 0.51
per cent to Rs 2,344.35, while ICICI Bank's stocks moved down
1.15 per cent to Rs 874.70.
Among the Asian bourses, Japan's stock exchange Nikkei
was trading 1.45 per cent lower, while Hong Kong's Hang Seng
was flat in early trade.
Meanwhile, the US Dow Jones Industrial Average ended 1.41
per cent weaker yesterday at 10,152.80 level. PTI SUN
RDM


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