Sensex down 127 points in opening trade

, Oct 10: The BSE benchmark

fell by over 127 points in opening trade on Wednesday on the emergence of profit selling by funds and retail investors amid a weakening trend on Asian bourses. The 30-share Sensex, which had gained 84.38 points yesterday, fell by 127.22 points, or 0.68 per cent, to 18,666.14.

Likewise, the wide-based National Stock Exchange Nifty shed 43.20 points, or 0.76 per cent, to 5,661.40. Brokers said Sensex rose as funds and retail investors indulged in profit-selling amid a weak trend on Asian bourses following overnight losses at the US market. They said US stocks fell on Tuesday, led by losses in technology, after brokerage downgrades major companies as worries increased about third-quarter US earnings.

Meanwhile, in the Asian region, Japan's Nikkei was down by 1.69 per cent, while Hong Kong's Hang Seng index shed 0.49 per cent. The US Dow Jones Industrial Average ended 0.81 per cent lower in overnight trade.

PTI