Sensex plunges over 150 points, dips below 16,800

Mumbai: The BSE benchmark index Sensex Wednesday fell by over 150 points in early trade as funds and retail investors booked profits amid a weak trend on other Asian bourses.

The 30-share index, which had gained 40.73 points in the previous session, fell by 156.95 points, or 0.93 percent, to 16,761.13, with stocks of metals, realty and oil gas leading the fall.

Similarly, the wide-based National Stock Exchange index Nifty declined by 43.90 points, or 0.86 percent, to 5,084.30.

Brokers said besides profit-booking by speculators after yesterday's gains, a weak trend on other Asian markets following overnight losses at the US markets amid euro-zone debt concerns and soft US corporate earnings mainly influenced the trading sentiment here.

They said a cautious approach adopted by participants in the absence of any positive trigger and tomorrow's monthly expiry in the derivatives segment too dampened the sentiment.

Asian stocks fell in early trade on concerns that China's economic slowdown and Europe's debt crisis would threaten growth across the globe.

Key benchmark indices in South Korea, Singapore, Japan and Hong Kong declined between 0.06 percent and 0.72 percent. However, key indices in China and Taiwan rose in the range of 0.06-0.3 percent.

The US Dow Jones Industrial Average ended 0.82 percent lower in yesterday's trade.

FIIs sold shares worth a net Rs 252.91 crore yesterday as per provisional data released by the stock exchanges.

The market may remain volatile in the immediate future as traders roll over positions from the near-month July, 2012 series to August, 2012 series as the July contracts will expire tomorrow.

PTI