The BSE benchmark Sensex today fell for the fourth consecutive day by losing nearly 85 points in early trade due to sustained selling by funds amid a weak trend in other Asian markets.
The 30-share barometer, which had lost nearly 224 points in the previous three sessions, fell further by 84.54 points, or 0.42 per cent, to 19,977.70. Stocks of capital goods, realty and power sectors were major losers, pulling down the benchmark Sensex. Similarly, the wide-based National Stock Exchange index, Nifty, declined by 28.85 points, or 0.47 per cent, to 6,065.65. Brokers said sustained selling by funds amid a weak trend in Asian region following overnight losses at the US market after Federal Reserve said the Fed could scale back stimulus measures if economic conditions improved, mainly influenced the trading sentiment here.
Besides, a weakening rupee, which dipped to over six-month low against the dollar yesterday also hit the sentiment, they said. Stocks of state-run lender, State Bank of India fell 1.32 per cent to Rs 2,333.15 ahead of fourth quarterly earnings. In the Asian region, Hong Kong's Hang Seng index traded lower by 1.56 per cent, Japan's Nikkei Index fell 2.18 per cent, in early trade.
The US Dow Jones Industrial Average ended 0.52 per cent lower in yesterday's trade.