Sensex down 90 pts on weak global cues

Mumbai: The BSE benchmark Sensex fell by nearly 90 points in opening trade on Monday, extending Friday`s losses on continued selling by foreign funds and retail investors amid weak cues from global markets.

The 30-share barometer, which lost 220.26 points in the previous session on Friday, slid further by 89.57 points, or 0.47 per cent, to 18,768.47 in opening trade today.

Shares of metals, banking, auto and realty companies were under selling pressure, dragging down the Sensex.

In a similar fashion, the wide-based National Stock Exchange Nifty index shed 29.85 points, or 0.53 per cent, to 5,630.80 in morning trade today.

Market experts said the trading sentiment remained bearish amid a weak trend on other Asian bourses in the wake of weak economic data from China and weekend losses in the US market.

The cautious approach adopted by participants ahead of the announcement of first quarter earnings by corporates also cast its shadow on the trading sentiment, they said.

In the Asian region, Hong Kong`s Hang Seng index was trading 0.87 per cent lower, while Japan`s Nikkei shed 0.48 per cent cent in the first few minutes of trade this morning.

In the US, the Dow Jones Industrial Average ended 0.49 per cent lower on Friday.