Sensex drops over 250 points in early trade

Mumbai, Sep 4: The Sensex of Bombay Stock Exchange dropped over 250 points at 14,798 on profit booking interest in the opening trade.

The benchmark BSE index opened with a negative gap of 154 points at 14,896 and further extended the fall as investors were seen booking profit at higher level in select scrips, following negative global cues, brokers said. The broader-based S &P CNX Nifty index of National Stock Exchange was trading down by 75.15 points at 4428.85. Index heavyweights -- HDFC Bank, HDFC, State Bank of India and Reliance Infrastructure tumbled by about three per cent each at Rs 1,302, Rs 2,375, Rs 1,495 and Rs 1,012, respectively.

Maruti India slipped by 2.3 per cent at Rs 650, Larsen &Toubro dropped by 1.7 per cent at Rs 2,636. All the sectoral indices on BSE tumbled into negative zone, with realty and power sector shares declining the most. Trading at Indian stock market was closed on Wednesday, Sep 3, on account of Ganesh Chaturthi.

UNI