Mumbai: The Bombay Stock Exchange benchmark Sensex fell by over 406 points at 1015 hrs today on all-round selling by funds following weak Asian markets amid declining rupee.

The 30-share index, which had lost 529.35 points in the previous session, lost another 406.13 points at 12,120.19 on major sell-off by foreign funds in the stocks of metals, capital goods, oil and gas and banking sectors despite the US Senate's approval to a modified rescue package for the troubled financial sector.

The National Stock Exchange index Nifty tumbled by 119.95 points to 3,698.35 with all the heavy-weight stocks trading in negative zone.

Marketmen said apart from weakening trend in the global markets, depreciating Indian rupee against the US dollar too dampened the trading sentiments here. Indian rupee fell by 21 paisa to 47.30 against the dollar in early trade on the Forex market.

They said, trading sentiments were so depressed even easing inflation, which dropped to 11.99 per cent also failed to prop up stock prices.

Major losers were ICICI Bank, HDFC Bank, State Bank of India, Bharti Airtel, Reliance Industries, Reliance Infra, RCom, Infosys Technologies, Satyam Computers, Tata Consultancy, Wipro, BHEL, Larsen and Toubro, Grasim Industries, HDFC Ltd and ACC.

Meanwhile, Hong Kong's Hang Seng was down by 2.9 per cent in early trade today.
Source : PTI