BSE Sensex down by 155 points in opening trade

Mumbai: Continuing its losing streak for the 8th straight session, the Bombay Stock Exchange benchmark Sensex fell by 155 points in opening trade on Wednesday on sustained selling by foreign funds and retail investors after the RBI raised key policy rates by 50 basis points yesterday.

The 30-share barometer, which lost over 1,068 points in the previous seven sessions, fell further by 155.69 points, or 0.84 per cent, to 18,379.00 points in the first few minutes of trade today.

The wide-based National Stock Exchange index Nifty, was trading 40.45 points, or 0.73 per cent, lower at 5,524.80 points.

Stocks of banking, realty auto and IT sectors were under pressure, dragging the Sensex down.

Brokers said continued offloading of stocks by funds and retail investors after the RBI raised the short-term lending (repo) rate by 50 basis points to 7.25 per cent in a bid to check inflation dampened the trading sentiment.

In addition, discouraging quarterly results by leading companies also cast shadow over the sentiment, they said.

Meanwhile, in other Asian markets, Hong Kong`s Hang Seng index was down 1.24 per cent in early trade this morning.