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Benchmark Sensex slips 50 pts in opening trade

Mumbai: The Bombay Stock Exchange benchmark Sensex shed 50 points in the opening trade on Wednesday, on increased selling by funds and retail investors in tandem with weak Asian markets.

The 30-share barometer, which had lost 62.33 points in the previous session, lost 50.55 points or 0.24 per cent at 20,448.17 level in a fall led by financial and realty sector stocks.

Similarly, the wide-based National Stock Exchange index Nifty declined by 27.50 points or 0.44 per cent to 6,118.85 points.

Brokers said continued offloading of positions at current high levels by funds and retail investors,particularly, in banking realty and metal sector stocks, dragged the Sensex down.

Besides, absence of positive cues from other Asian bourses also cast shadow on the sentiments here, they said.

In other markets in Asia, Japan`s Nikkei shed 0.10 per cent while Hong Kong`s Hang Seng index was down by 0.

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