Sensex drops by over 78 points in the opening trade today

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Mumbai, Apr 4: Extending yesterday’s fall, the benchmark BSE Sensex dropped further by over 78 points in the opening trade today as funds and retail investors indulged in profit-booking amid a weakening trend in global markets.

Stocks of PSUs, oil and gas, banking and capital goods sector led the fall. The 30-share Sensex fell by 78.67 points, or 0.35 per cent, to trade at 22,430.40. It had lost 42.42 points in yesterday’s trade after soaring to new intra-day lifetime high of 22,620.65.

The 50-share NSE Nifty, which fell by 16.45 points in yesterday’s trade, fell by another 23.85 points, or 0.35 per cent, to 6,712.25.

Besides increased profit-booking at prevailing record levels by participants, a weakening trend in the Asian region, following overnight losses in the US markets as investors awaited a key jobs report also dampened the trading sentiment, brokers said.

Among other Asian markets, Hong Kong’s Hang Seng fell by 0.39 per cent, while Japan’s Nikkei shed 0.44 per cent in early trade today. The US Dow Jones Industrial Average ended 0.45 points lower in yesterday’s trade.