The Bombay Stock Exchange benchmark Sensex fell by over 187 points in early trade on Wednesday, snapping its three-session rising streak on heavy selling by funds, following a weak global trend as US government’s latest financial rescue plan disappointed investors across the world.

The 30-share index, which had gained over 556 points in the past three sessions, fell by 187.88 points to 9,459.59 as all the sectoral indices were trading in negative zone with losses up to 2.37 per cent in early trade.

The 50-share National Stock Exchange Nifty also lost 56.90 points to 2,877.60.

Marketmen said most of the bluechips retreated following overnight sharp losses on the US market as the financial rescue plan by the country’s government may not be enough to revive credit markets and other Asian bourses.

Profit-taking by speculators in bluechip stocks, after witnessing three-session long rally also attributed fall in stock prices, they said.

Major losers, which dragged the Sensex down, are Reliance Industries by 1.87 per cent to Rs 1,375.30, Sterlite Industries by 2.23 per cent to Rs 271.90, State Bank of India by 1.55 per cent to Rs 1146, ICICI Bank by 2.72 per cent to Rs 416.45 and Infosys by 1.45 per cent to Rs 1,288.40.

Among other losers are BHEL by 1.08 per cent to Rs 1435.95 and Larsen and Toubro by 2.04 per cent at Rs 683.15.

Meanwhile, the US Dow Jones Industrial Average had clsoed 4.62 per cent down, while London’s FTSE shed 2.19 per cent on Tuesday.

Among Asian markets, Hong Kong’s Hang Seng lost 3.23 per cent in early trade on Wednesday, while Japan Financial markets are closed on Wednesday.

source: DnaIndia

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