Sensex down 118 points on weak global cues

Updated - July 19, 2016 06:20 pm IST

Published - March 07, 2012 09:49 am IST - Mumbai

A view of the BSE building in Mumbai. File photo

A view of the BSE building in Mumbai. File photo

The BSE benchmark Sensex declined nearly 118 points in early trade on Wednesday on sustained selling by funds and retailers amid a weak trend on Asian bourses.

The 30-share barometer, which had lost almost 364 points in last two trading days, moved down further by 117.83 points, or 0.69 per cent, to 17,055.46 in opening trade.

On the similar lines, the broad-based National Stock Exchange index Nifty declined by 37.20 points, or 0.71 per cent, to 5,185.20.

All sectoral indices were trading in negative zone with losses up to 1.40 per cent.

Brokers said sustained selling by funds and retailers amid a weakening trend on Asian bourses in line with overnight fall in the US market mainly dampened the trading sentiment.

In the Asia region, Hong Kong’s Hang Seng index fell by 1.23 per cent and Japan’s Nikkei index by 1.33 per cent in morning trade today. The US Dow Jones Industrial Average ended 1.57 per cent lower in yesterday’s trade.

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