Sensex extends losses, down by 93 points in early trade

The 30-share barometer, which has lost nearly 700 points in the previous five sessions, moved down further by 92.80 points, or 0.57 per cent, to 16,123.04 in opening trade.

All sectoral indices, led by healthcare, auto and power stocks, fell up to 0.45 per cent.

Similarly, the wide-based National Stock Exchange index Nifty declined by 39.25 points, or 0.79 per cent, to 4,868.55.

The trading sentiments remained bearish on continued selling by funds and retail investors on concerns that the rise in inflation will reduce chances of further rate cuts by the Reserve Bank and downgrading of ICICI Bank, HDFC Bank and Axis Bank by rating agency Moody's, brokers said.

A deprecating rupee, which plunged to record low against the US dollar was another dampening factor, they added.

In the Asian region, the Japan's Nikkei fell by 1.38 per cent, while Hong Kong's Hang Seng shed 0.07 per cent in early trade. The US Dow Jones Industrial Average ended 0.98 per cent in yesterday's trade.