Sensex slips by 90 points

Mumbai: The BSE benchmark Sensex shed 90 points in the opening trade today, extending yesterday`s losses on mixed trend overseas and continued selling by funds and retail investors fearing hike in key interest rates by the Reserve Bank of India.

The 30-share Bombay Stock Exchange barometer lost 90.53 points to 19,092.29 level, with financial, realty, auto and metal sector stocks leading the fall. It had plunged 351.28 points in the previous session.

The broad-based National Stock Exchange index Nifty also declined by 30.20 points to 5,721.70 points today.

Brokers said continued offloading of positions by funds, particularly, in banking and realty stocks amid fears of a interest rate hike this month by the RBI to curb inflation, dampened the trading sentiment here.

Among banking stocks, the country`s largest lender State Bank of India fell by 0.45 per cent to Rs 2,549 a share, while ICICI Bank shed 0.90 per cent at Rs 1,018.50 a share.

In other markets in Asia, Japan`s Nikkei shed 0.40 per cent while Hong Kong`s Hang Seng index was up by 0.28 per cent cent in the morning trade today.

In the US, Dow Jones Industrial Average ended 0.20 per cent higher in yesterday`s trade.

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