The key benchmark indices were trading lower today mirroring the weakness in global stocks. The Sensex was down 92 points at 16,647 levels and the Nifty dropped 0.6 per cent to 4,939.
Metal, realty and power stocks were under pressure in the early trades. The metal index on the BSE shed 2.8 per cent and the BSE realty index slid 2.6 per cent. The power index also lost 1 per cent.
Among the Sensex stocks, Sterlite Ind led the losers. The stock shed nearly 4 per cent in early trades. Hindalco, RCom and DLF were the other major losers in the pack. The stocks fell over 2 per cent each. However, Wipro was the biggest gainer in the group. The stock jumped 4 per cent after the company reported 18.76 per cent increase in its consolidated net profit at Rs 1,161.7 crore for the second quarter ended September 30, 2009.
A strengthening dollar and worries about an overheated market pounded US stocks on Monday. The Dow fell 104.22, or 1.1 percent, to 9,867.96. The broader Standard & Poor's 500 index fell 12.65, or 1.2 percent, to 1,066.95. The Nasdaq fell 12.62, or 0.6 percent, to 2,141.85.
The Asian markets also fell today on the back of losses in US markets. Hong Kong’s Hang Seng shed 1.5 per cent and Japan’s Nikkei dropped 1.4 per cent. South Korea’s Kospi was down 0.7 per cent.(With inputs from agencies)