Sensex opens 74 points lower

Mumbai: Bombay Stock Exchange benchmark Sensex shed over 74 points in opening trade today, dragged by continued selling by funds amid losses in other Asian bourses.

The BSE 30-share barometer, which has lost over 600 points in the previous two sessions, declined by 74.01 points, or 0.39 per cent to 19,017.16 level today, with realty, auto, metals and oil and gas sector stocks leading the fall.

Similarly, wide-based National Stock Exchange index Nifty lost 19.90 points, or 0.35 per cent to 5,709.20 points.

Brokers said trading sentiment turned bearish on funds` selling, triggered by weakening trend on other Asian bourses in line with overnight losses in the US as the rating agency Standard and Poor`s cut its credit outlook to negative.

Japan`s Nikkei was down by 1.13 per cent, while Hong Kong`s Hang Seng fell by 1.22 per cent in morning trade today.

In the US, Dow Jones Industrial Average ended 1.14 per cent down in yesterday`s session.