The BSE benchmark sensex dropped further by 73 points in early trade on Monday due to selling pressure in metal, banking, realty and IT stocks amid weak Asian cues.

The BSE benchmark sensex resumed lower at 18,823.19 and dropped further to 18,738.32 before quoting at 18,784.97 at 10.15am, showing a net loss of 73.07 points, or 0.39 per cent.

The NSE's 50-share Nifty index also fell by 24.90 points, or 0.44 per cent, to 5,635.75 at 10.15am.

Metal and mining stocks extended Friday's slide in the wake of reports that a panel of ministers has approved the draft Mining Bill, which calls for coal miners to share 26 per cent of their profits and other non-coal mineral miners to pay 100 per cent royalty to project-affected people.

In the 30-member sensex pack, 25 stocks declined, while the remaining gained.

The major losers were Hindalco (down 2.89 per cent), Infosys (2.35 per cent), Maruti (1.67 per cent), BHEL (1.65 per cent), DLF (1.39 per cent) and Wipro (1.23 per cent).

Investors will closely watch the Q1 results of companies to gauge the future outlook for the market.

Asian stocks fell in early trade as US unemployment unexpectedly increased, dimming the outlook for the global economic recovery and Asian exporters' earnings. The key benchmark indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were down by about 0.16 per cent to 1.07 per cent.



Keywords: BSE benchmark sensex , losers were Hindalco,global economic recovery ,Asian exporters,IT stocks amid weak Asian cues,DLF , BHEL ,Wipro,Maruti ,Infosys