Mumbai: The BSE benchmark Sensex started off on a negative note and fell by almost 110 points in opening trade on Monday, extending its losses for the fourth consecutive session. The losses continued on selling by foreign funds and retail investors, taking cues from weak global markets.
Fears that the Reserve Bank of India may announce a hike in interest rates in its credit policy review later this week also dampened the sentiment.
The 30-share barometer, which lost over 226 points in the previous three sessions, moved down further by 109.12 points, or 0.46 per cent, to 18,159.42 in the first few minutes of trade on Monday.
Stocks of oil and gas, IT, realty and metal companies remained under pressure.
Similarly, the wide-based National Stock Exchange Nifty index slid by 34.50 points, or 0.60 per cent, to 5,451.30.
Market experts said the trading sentiment remained bearish amid a subdued trend on other Asian bourses following weekend losses in the US market and fears of another hike in interest rates by the Reserve Bank of India in its credit policy review.
In the Asian region, Hong Kong’s Hang Seng index was trading 0.82 per cent lower and Japan’s Nikkei shed 0.77 per cent this morning. In the US, the Dow Jones Industrial Average ended 1.42 per cent lower in Friday trade.