Sensex dips 300 points to 10,274 on opening

Mumbai, May 25: The 30 share Sensitive Index(Sensex) dipped 298 points to a low of 10,274 points just a few minutes after opening, due to weaker Asian markets.

The markets opened weaker with the benchmark index of the Bombay Stock Exchange(BSE) opening 52 points lower at 10,520 points as compared to the last close of 10,573 and then fell sharply within few minutes.

The National Stock Exchange (NSE) S&P CNX Nifty index opened lower at 3,114 points as compared to the last close of 3,115.

Nifty too dipped sharply by 103 points to a low of 3,012 points very quickly.

Sensex recovered partly and traded 213 point down at 10,360 points at 10:14 hrs after dipping sharply by 300 points to 10,274. The sectoral indices were all in red, led by steep fall in BSE Metal, Auto, PSU and Consumer durable indices by more than two per cent.

The top losers on the 30 share Sensex were Reliance Energy, down by 5.99 per cent; BHEL down by 5.22 per cent; Bharti Tele down by 4.90 per cent; Tata Power was down by 4.63 per cent; Dr Reddy's Lab was down by 3.33 per cent; and Hindalco was down by 3.13 per cent.

Other losers were HDFC Bank, HDFC and Ranbaxy.

There were only two gainers on the Sensex -- Hero Honda and Reliance both up by less than half a per cent.

UNI

Related Stories