Sensex down 148 points on heavy selling

The Bombay Stock Exchange benchmark Sensex fell by over 148 points in early trade today on heavy selling by funds following a weak global trend.

The Bombay Stock Exchange benchmark Sensex fell by over 148 points in early trade today on heavy selling by funds following a weak global trend.

The 30-share index, which had lost 21.19 points in yesterday's choppy trade, fell further by 148.92 points to 9,087.36 points as heavyweights Reliance Industries, Infosys Technologies, ICICI Bank and State Bank of India recorded heavy losses.

The 50-share National Stock Exchange index Nifty lost 49.85 points at 2,774.10 points.

Marketmen said most of the bluechips retreated following overnight sharp losses on the US market on weak economic data.

They attributed profit-taking by speculators in bluechip stocks at prevailing higher levels after a recent rally to fall in stock prices.

Major losers, which dragged the Sensex down, are BHEL by 4.40 per cent at Rs 1,296, RIL by 1.17 per cent at Rs 1,253.25, Infosys by 1.27 per cent at Rs 1,293, Tata Consultancy by 1.83 per cent at Rs 499.70.

Besides, Larsen and Toubro lost 0.67 per cent at Rs 655.85, Tata Power 2.04 per cent at Rs 745.10, Tata Motors 2.03 per cent at Rs 147.50 and Tata Steel 1.69 per cent at Rs 180.20.

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