The Bombay Stock Exchange benchmark Sensex slipped by over 162 points in opening trade on Friday on profit-booking at higher levels by funds as well as retail investors amid weak global markets.
The BSE-30 share benchmark Sensex, which had gained 61.93 points in Thursday’s volatile session, fell by 162.97, or almost 1 per cent at 16,618.43 in opening trade with metals, realty and IT sector stocks retreating.
Similarly, the Nifty index on the wide-based National Stock Exchange moved down by 55.30 points, or 0.54 per cent to 4,931.25.
Brokers said emergence of profit-booking by funds and retail investors at prevailing levels and weakening trends in global markets on fears that authorities around the world might start withdrawing some of the stimulus measures taken to revive recession-hit economies, mainly attributed to the decline in stock prices.
Metal sector stocks faced selling pressure after overnight weakness in base metals at the London Metal Exchange.
Sterlite Industries fell by 1.89 per cent to Rs 747.60, Tata Steel by 0.94 per cent to Rs 508.35 and Hindalco by 1.94 per cent to Rs 126.50.
Among other losers Reliance Industries moved down by 0.30 per cent to Rs 2,098, Reliance Infra by 0.99 per cent to Rs 1,203.70, Infosys Technologies by 0.84 per cent to Rs 2,266 and Tata Consultancy by 0.93 per cent to Rs 593.80.
Besides, State Bank of India was down by 0.63 per cent to Rs 2,145, ICICI Bank by 1.31 per cent to Rs 848.80 and Bharti Airtel by 1.31 per cent to Rs 413.75.
