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Sensex down 135 points; hovering above 19,300

The BSE benchmark Sensex resumed lower at 19,394.55 and dropped further to a low of 19,290.50 before quoting at 19,318.57, showing a net loss of 135.35 points of 0.70 percent.

World stocks slide as uncertainty grows over US 'fiscal cliff'

US S&P 500 stock futures plunged 1.5 percent on worries over the US "fiscal cliff".

Obama hopeful of a bipartisan solution to fiscal cliff problem

The President's main priority is to ensure that taxes don't go up on 98 percent of Americans and 97 percent of small businesses in just a few short days, White House Press Secretary, Jay Carney, said.