Sensex opens 88 pts down, extends losing streak, Kingfisher Airlines eyed

The BSE benchmark Sensex today declined by over 88 points in early trade, extending losses for the fourth straight session as funds and retail investors engaged booking profit amid a weak trend in global markets.

The 30-share barometer fell by 88.49 points, or 0.44 per cent, to 19,662.70.

The index had lost nearly 254 points in the past three sessions.

Stocks of realty, capital goods, metal, auto, power and banking sectors declined due to profit-booking.

Similarly, the wide-based National Stock Exchange index Nifty fell by 39.35 points, or 0.65 per cent, to 5,947.90.

Brokers said a weak trend in the Asian trade following overnight losses on the US market on weak data, spurring selling, dampened the trading sentiment here.

In the Asian region, Japan's Nikkei Index was down 1.27 per cent, while Hong Kong's Hang Seng index shed 1.66 per cent in early trade.

The US Dow Jones Industrial Average ended 0.93 per cent down in yesterday's trade.

Stocks to watch-Feb 5

(Reuters): Global markets round up

Nifty futures on the Singapore Exchange fell 0.5 percent. The MSCI-Asia Pacific index, excluding Japan fell 0.8 percent.

Asian shares slid on Tuesday as investors saw opportunities to cash in from recent strong rallies in the face of weak U.S. data and worries that a potential political shake-up could disrupt the eurozone's efforts to resolve its debt crisis.

U.S. stocks slid on Monday, giving the S&P 500 its worst day since November, as renewed worries about the euro zone crisis caused the market to pull back from recent gains.

FACTORS TO WATCH

Earnings: UCO Bank, United Breweries Holdings Ltd.

A panel of ministers headed expected to meet to set the date and floor price of the government's 9.5 percent stake sale in NTPC Ltd.

... contd.

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