Sensex declines by 18 points

Mumbai: The BSE benchmark Sensex opened over 18 points lower today on sustained selling by foreign funds and retail investors ahead of the release of factory output data for the month of April later today.

The 30-share barometer, which lost over 110 points in the previous two sessions, fell further by 18.04 points, or 0.10 per cent, to 18,366.86 points in the first five minutes of trade.

Similarly, the wide-based National Stock Exchange Nifty index slid by 11.40 points, or 0.14 per cent, to 5,509.65 points.

According to market experts, the trading sentiment turned bearish on sustained selling by funds and retail investors ahead of the release of index of industrial production (IIP) data later today.