Sensex tumbles 188.23 pts in opening trade

Mumbai, Sep 10: The benchmark Sensex of Bombay Stock Exchange (BSE) fell 188.23 points to 14,717.53 on sustained selling pressure following the weak global cues in the opening trade.

Sensex opened far below into the red on Wednesday, Sep 10 on weak cues from global markets but later in the mid-morning trade, it recovered marginally on some buyings in select scrips and was trading 115 points down at 14,785. The broader-based S &P CNX Nifty index of National Stock Exchange (NSE) was trading 28 points down at 4,441. Sterlite Industries tanked 6.39 per cent to Rs 539 tracking sharp fall in its ADR which tumbled 16.23 pc yesterday on the New York Stock Exchange (NYSE). The counter saw high volumes of 8.27 lakh shares. It was the top loser from the Sensex pack.

Banking shares were under pressure. ICICI Bank was down 2.22 pc to Rs 696.80, State Bank of India was down 0.55 pc to Rs 1,552.10 and HDFC Bank was down 1.47 pc to Rs 1,273.05.

Reliance Industries (RIL) declined 1.35 pc to Rs 2,114 on 1.03 lakh shares. Mahindra &Mahindra was down 1.04 pc to Rs 576.20, Tata Motors down 0.81 pc to Rs 417 and NPTC down 0.72 pc to Rs 178.30.

Foreign institutional investors (FIIs) were net equity sellers worth Rs 391.53 crore, while mutual funds bought shares worth Rs 106.27 crore on September 9, according to provisional data on NSE.

FIIs were net buyers of Rs 33.39 crore in the futures&options segment on the same day. They were net buyers of index futures to the tune of Rs 450.28 crore and bought index options worth Rs 43.99 crore. They were net sellers of stock futures to the tune of Rs 577.41 crore and bought stock options worth Rs 49.75 crore.

UNI