Sensex dips below 18K as global worries intensify
Mumbai: The Bombay Stock Exchange benchmark Sensex dropped further by 133 points to below the psychological 18,000-mark at 17,977.35 Wednesday on persistent selling by operators on mounting concerns about slowing global growth.
The BSE benchmark Sensex resumed lower at 17,970.19 and moved down further to 17,886.57 before quoting at 17,977.35 at 1015 hours, showing a net loss of 132.54 points, or 0.73 percent, from its last close.
The NSE's 50-share Nifty index also moved down by 43.75 points, or 0.80 percent, to 5,412.80 at 1015 hours.
The market breadth was weak. Index heavyweight Reliance Industries (RIL) extended its recent losses, while DLF slumped by 3.29 percent on poor Q1 results. Many other realty stocks declined after DLF's weak results.
From the 30-share Sensex pack, 29 stocks fell and only one stock rose.
Jaiprakash Associates, Tata Motors and Reliance Communications fell by between 2.43 per cent and 3.57 percent. ONGC rose 0.82 percent and was the lone gainer from the Sensex pack.
Meanwhile, Asian shares fell heavily across the board in early trade with investors exiting equities on mounting concerns about slowing global growth.
The key benchmark indices in South Korea, Indonesia, Singapore, Hong Kong, Japan, and Taiwan fell by between 1.17 per cent to 2.75 percent, while China's Shanghai Composite rose by 0.09 percent.