Market continues to slide

Continuing its slide for the third day in a row, the BSE benchmark Sensex fell by 41 points in opening trade today on sustained selling by foreign funds, triggered by lower GDP numbers a weak trend in Asian regions. The 30-share barometer, which has lost over 220 points in the previous two sessions, fell further by 41.01 points, or 0.25 per cent, to 16,177.52.

Similarly, the wide-based National Stock Exchange index Nifty declined by 7.10 points, or 0.14 per cent, to 4,917.15. Trading sentiment remained bearish on sustained selling by funds and retail investors on weak GDP growth amid a weak trend in Asian region.

India's economic growth rate slowed to a nine-year low, both in the March quarter at 5.3 per cent as well as in 2011-12 at 6.5 per cent. In the Asian region, the Japan's Nikkei fell by 0.74 per cent, while Hong Kong's Hang Seng shed 0.74 per cent in early trade. The US Dow Jones Industrial Average ended 0.21 per cent lower in yesterday's trade.

PTI