The 30-share benchmark index, the Sensex, opened with a negative gap of 330.12 points at 16,211.96 mirroring weak global cues in the early deals. Banking, realty and IT sectors are worst hit.
Asian markets declined in the early session on Friday (Mar. 07, 2008), set for the largest weekly drop since August 2007, on concern that the credit losses will increase and after commodity prices declined.
The Sensex is currently trading at 16024.79, down 517.29 points, ; while the broad based NSE Nifty is trading at 4,767.30, down 154 points (11 a.m.).
Out of the total 1,907shares traded, 162 advanced, 1719 declined and 26 remained unchanged.
Among the sectoral indices traded, BSE Auto declined 2.51%, Bankex dropped 3.78%, Metal dipped 2.48%, Power shed 4.89% and Realty was down 4.91%.
Laggards on the BSE Sensex were REL, which tanked 7.23% to Rs 1,353.00, ICICI Bank and DLF dropped over 4% each to Rs 912.55 and 650.50 respectively. Maruti, Satyam, HDFC Bank, RComm, NTPC, Infosys and SBI also slipped.