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The Bombay Stock Exchange fell by over 102 points in opening trade on Friday as funds and retail investors keen to book profits ahead of the New Year offloaded their positions amid a weak trend in the Asian region.
The 30-share barometer, which had lost over 77 points in the previous two sessions, fell by 102.52 points to 19,880.36 in the first few minutes of trade, with metal, technology, banking and auto sector stocks remaining under pressure. Similarly, the wide-based National Stock Exchange Nifty declined by 39.75 points at 5,940.25.
Brokers said continued selling by funds and retail investors keen to book profits ahead of the end of the calendar year led the Sensex’s fall. In addition, the absence of any positive cues at home or overseas also vitiated the trading sentiment, they said.
Inflation, which rose to a six-week high of 12.13 per cent for the week ending December 11, also cast its shadow on the market, they said.
Meanwhile, in other markets in Asia, Japan’s Nikkei shed 0.68 per cent, while Hong Kong’s Hang Seng index was almost flat in early trade today.
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