Mumbai: The benchmark BSE Sensex tumbled by over 334 points in opening trade today, extending yesterday’s losses on concerns over slowing industrial growth and a weakening trend in the rest of Asia amid renewed worries about the euro zone debt crisis.
The 30-share Sensex, which lost nearly 389 points in yesterday’s trade, plunged by 334.27 points, or 2.02%, to 16,153.97 in opening trade today.
In a similar fashion, the wide-based National Stock Exchange Nifty index declined by 91.20 points, or 1.84 %, to 4,852.45.
All the sectoral indices were trading in the negative zone with losses of up to 2.14%, led by financial and metal stocks.
Brokers said the market sentiment was badly dampened by reports that industrial output contracted during October, in addition to a weakening trend on other Asian bourses following overnight losses in the US on fading hopes for a speedy resolution to the euro zone’s debt crisis.
In the Asia region, Hong Kong’s Hang Seng index was down by 1.90% and Japan’s Nikkei index lost 1.70% in morning trade today. The US Dow Jones Industrial Average ended 1.63% lower in yesterday’s trade.