Mumbai: The Bombay Stock Exchange (BSE) benchmark Sensex slid by 155 points in opening trade on Wednesday on sustained selling by foreign funds and retail investors after the Reserve Bank of India (RBI) raised key policy rates by 50 basis points.

The Sensex, which lost over 1,068 points in the previous seven sessions, fell further by 155.69 points, or 0.84 percent, to 18,379.00 points in the first few minutes of trade on Wednesday.

The wide-based National Stock Exchange index Nifty, was trading 40.45 points, or 0.73 percent, lower at 5,524.80 points.
Stocks of banking, realty auto and IT sectors were under pressure, dragging the Sensex down.

Brokers said continued offloading of stocks by funds and retail investors after the RBI raised the short-term lending (repo) rate by 50 basis points to 7.25 percent in a bid to check inflation dampened the trading sentiment.

In addition, discouraging quarterly results by leading companies also cast shadow over the sentiment, they said.

Meanwhile, in other Asian markets, Hong Kong's Hang Seng index was down 1.24 percent in early trade on Wednesday morning.

(Agencies)