Global equities and the euro had fallen on Tuesday, knocked by gloomy forecasts from the International Monetary Fund, which said the world economic slowdown was worsening, and pessimism about the U.S. corporate earnings outlook.
BHEL is the top Sensex loser, down nearly 2% to Rs 245. Wipro, Bharti Airtel, State Bank of India, ICICI Bank, NTPC, Larsen & Toubro, Infosys, ONGC, HDFC, Sterlite Industries, HDFC Bank and Coal India have also opened weaker by 1-1.2% each.
Selling pressure is visible across the board. Realty and banking stocks are amongst the worst hit. The BSE realty index is the top sectoral loser, down nearly 2% or 35 points at 1,855. Bankex, power, capital goods, PSU, consumer durables, IT, oil & gas and autio indices are also down 0.4-1% each.