Sensex down 118 points in opening trade on global cues

Continuing its slide for the thirdstraight session, the Bombay Stock Exchange benchmark indexSensex lost nearly 118 points in opening trade today onincreased capital inflows by funds and retail investors,triggered by weak global markets.

Sentiments also dampened on fears that the governmentmight step in to check the rush of foreign funds.

The 30-share BSE Sensex fell 117.71 points to 16,667.94points in opening trade. The BSE barometer lost 265 points inthe past two sessions.

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The wide-based National Stock Exchange index Nifty moveddown by 42.95 points to 4,946.05 points.

Brokers said sentiments on the domestic bourses turnedweak following overnight losses on the US stock markets andweak trends on the other Asian markets in early trade today.

Besides, continued profit-booking by speculators alsoattributed to fall in stock prices, they said.

Among prominent losers, Reliance Industries fell by 0.40per cent to Rs 2,073.70, Infosys by 0.43 per cent to Rs 2,399,Tata Steel by 0.34 per cent to Rs 535.50, Reliance Infra by1.14 per cent to Rs 1092.70, State Bank of India by 1.17 percent to Rs 2,253.80 and ICICI Bank by 1.42 per cent to Rs 873and Sterlite 0.58 per cent to Rs 840.15.

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The Hong Kong's Hang Seng index and Japan's Nikkei weredown by almost one per cent in early trade today. The US DowJones Industrial Averaged ended 0.90 per cent down inyesterday's trade.

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