ensex sheds 151 pts, Wipro falls 4%

The BSE benchmark Sensex Wednesdayshed 151 points as investors sold bluechips across the board on fears of a hikein interest rates to tame inflation and lower-than-expected Q1 earnings postedby IT major Wipro despite a firm trend overseas.

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The 30-share Sensex, which gained 147 points on Tuesday,started on a positive note before tumbling 151.49 points to 18,502.38, withalmost all sectoral indices closing in red.

Broad-based National Stock Exchange index Nifty also fell by46.50 points to 5,567.05, after touching the intra-day high of 5,645.40.

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Brokers said the sentiment turned bearish ahead of the RBIpolicy meet next week on concerns that a stubbornly high inflation would pushthe central bank to further raise interest rates, which would dent corporateearnings.

The mood was also dampened after IT major Wipro's firstquarter earnings for this fiscal and its sales forecast for the next quarterfailed to match the market expectations and influenced trading in technologysector.

Wipro stocks fell to a 3-month low, losing 3.95 per cent toRs 398.60 a piece.

Selling selling pressure gathered momentum at mid-way andreports of a better trend in Asian region and higher opening in Europe failed to lift the investors' mood.

Power sector index suffered the most, losing 1.73 per centfollowed by healthcare index that shed 1.71 per cent.

Capital goods index fell by 1.45 per cent and auto index1.42 per cent.