Sensex down 56 points as May series gets off a shaky start

The BSE Sensex fell about 56 points to trade at 25,547.45 in early trade on Friday on continued selling by participants as the May derivatives series began on a negative note amid a weak trend in the global market.

The 30-share Sensex, which lost 461 points in the previous session, fell by another 55.65 points, or 0.21%, to 25,547.45.

Technology, consumer durables, IT, power, auto, banking and capital goods were in the negative zone, falling up to 0.42%.

Also, the NSE Nifty was down 15.65 points, or 0.19%, at 7,831.60.

Brokers said sustained selling by participants despite the beginning of May futures and options series and a weak trend in Asia tracking losses in the US weighed on sentiment.

Data showed that the US economy grew at a slower-than-expected pace in the first three months of this year.

Hong Kong's Hang Seng was down 1.42% while the Shanghai Composite index fell 0.31% in early trade.

Japanese financial markets are closed today for a public holiday.

The US Dow Jones Industrial Average ended 1.17% lower in Thursday’s trade. 

At 1008 hours, the benchmark index, Sensex was trading at 25,672.99, up 69.89 points or 0.27%.