New Delhi: The markets continue its downtrend for third consecutive day on account of extremely negative cues from the overseas markets.
There was broad based selling seen in the markets and index heavyweight were trading under pressure. All the key indices opened in red with extremely negative market breadth.
The benchmark Sensex plunged 172 points in early trading on Friday on the Bombay Stock Exchange on massive selling by funds as well as investors.
The BSE-30 share index, Sensex, which had lost over 235 points in the past two sessions, fell by another 172.05 points, or 1.20 per cent, at 14,046.06 in the first five minutes of the trading following a significant fall in heavy-weight stock prices.
Similarly, on the wide-based National Stock Exchange, Nifty fell 63.5 points to go below 4200 points at 4,141.35.
Stockbrokers said weakening global stock markets mainly dampened the trading sentiments here, triggering all-round selling by funds as well as retail investors.
They said melting metal prices in the international markets also acted as a negative factor.
Major draggers were Reliance Industries, Infosys technologies, BPCL, Tata Steel, ICICI Bank, State Bank of India, Maruti Udyog and Reliance Communications.
Meanwhile, Suzlon stocks were in good demand after reports of it winning the race for German's REpower. Its shares were up by 3.5 per cent at Rs 1199.50 on BSE.
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