Sensex tanks close to 400 points on IMF growth forecast, Asian cues

Zee Media Bureau

Mumbai: Key Indian equity indices opened lower on Wednesday and skid further on weak Asian cues.

The Bombay Stock Exchange (BSE) opened at 24,325.77 points, however, it was soon trading at 24,084.02 with a loss of 395.82 points, or 1.56 percent.

At the National Stock Exchange (NSE), the broader 50-share Nifty was trading at 7,318.30 points, down 116.80 points, or 1.57 percent.

Asian share markets were in full retreat on Wednesday as a relentless slide in oil prices soured an attempted rally on Wall Street and dealt a further blow to global investors` appetite for riskier assets.

US crude wallowed at its lowest since 2003 after the world`s energy watchdog warned the market could "drown in oversupply".

US crude futures shed 53 cents to $27.93, while Brent crude lost 24 cents to $28.52 a barrel.

With Agency Inputs