Sensex down 67 points in early trade on global cues

Extending its slide for the third day in a row, the BSE benchmark Sensex lost another 67 points in early trade on Wednesday, with shares of banking, oil and gas and metal sectors remaining under pressure, on continued foreign capital outflows amid weak global cues.

The 30-share Sensex, which had lost over 240 points in the past two sessions, declined by 67.05 points, or 0.39 per cent to 16,810.11 in early trade. The wide-based National Stock Exchange index Nifty also drifted by 21.85 points, or 0.43 per cent, to 5,011.20.

Brokers said overnight losses on the US market and weak opening on the Asian bourses mainly dampened the trading sentiments here, triggering selling by foreign funds.

Among losers, heavy-weight, Reliance Industries was down 0.18 per cent at Rs 1,049.50 on increased selling by speculators and funds.

Other weak counters, which dragged the Sensex lower were SBI down 0.13 per cent to Rs 2,177.90, HDFC Bank lower 0.57 per cent to Rs 1,68.90 and ICICI Bank dipped 0.42 per cent to Rs 821.90.