4:59 AM
MUMBAI: The BSE benchmark Sensex was down by over 195 points in early trade on Monday amid fresh selling pressure in metal, consumer durables, refinery and capital goods stocks on account of global economic worries, coupled with lower Asian advices. Fears of weak Q2 results and data showing heavy selling by foreign funds affected the trading sentiment adversely as the 30-share Bombay Stock Exchange (BSE) index fell to a one-month low.
The Sensex declined to 15,964.45 within minutes of opening trade before quoting at 15,966.67 at 1015 hours, a net loss of 195.39 points, or 1.21 per cent, vis-a-vis last weekend's close.
The National Stock Exchange's 50-share Nifty index also moved down by 62.70 points, or 1.29 per cent, to 4,805.05 at 1015 hours.
Volatility is expected to remain high this week as traders roll over positions in the futures & options (F&O) segment from the near-month September, 2011, series to the October, 2011, series. The September, 2011, derivatives contracts will expire on Thursday (September 29).
Foreign institutional investors (FIIs) sold shares worth Rs 1,279.61 crore last Friday as per provisional data from the stock exchanges.
Meanwhile, Asian stocks extended last week's heavy losses in early trade on Monday, influenced by worries about the global economic outlook. The key benchmark indices in China, Japan, Hong Kong, Taiwan, Singapore and South Korea were down by between 0.5 per cent and 1.93 per cent.
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