Sensex extends losses, down 80 points in early trade

Mumbai: Continuing its losing streak for the sixth straight session, the benchmark BSE Sensex fell by another 80 points in early trade today on sustained selling by funds and retail investors amid sluggish Asian cues, while weak corporate earnings continue to affect markets sentiment.

The 30-share index was trading down by 80.56 points, or 0.30 per cent, to 26,576.27 with stocks of consumer durables, healthcare, capital goods, FMCG, PSU and realty sectors leading the fall. The gauge lost almost 814 points in the previous five sessions. On similar lines, the National Stock Exchange Nifty today shed 31.10 points, or 0.39 per cent, to 8,034.70. Brokers said persistent selling by participants following weaker-than-expected earnings by some companies and a weak trend at other Asian markets after weak Chinese manufacturing data for October fuelled fears about the state of the world’s number two economy mainly dampened the sentiment.

Among other Asian markets, Japan’s Nikkei moved down by 1.87 per cent and Hong Kong’s Hang Seng fell 0.23 per cent in early trade today. Shanghai composite index shed 0.02 per cent. The US Dow Jones Industrial Average ended 0.52 per cent lower in Friday’s trade.

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