Sensex falls ahead off Union Budget

Mumbai, February 29: The Bombay Stock Exchange benchmark Sensex fell by 189 points in early trade on Friday as funds and general investors reduced their holdings ahead of the Budget 2008-09.

The stock market remained jittery as the Finance Minister P Chidambaram started his Budget speech amid indications of a slowdown in the country's economic growth.

The 30-share index, which closed flat in the last two sessions, lost 189 points by 11:30 a.m.

The National Stock Exchange index Nifty was also lower by 44.20 points at 5,240.20 points.

Marketmen said the selling pressure emerged as stock market participants reduced their position before Chidambaram presents the Budget in Parliament at noon.

They said a falling trend in global market also influenced the trading sentiment.

ANI