Sensex down over 450 points, Nifty opens below 5,000
See photoNEW DELHI: The market meltdown continued on Tuesday with the Sensex opening 500 points down. The Nifty slipped below 5,000-mark for the first time since 2010.
At 09:16 am, the BSE Sensex slipped 525 points at 16,464 while the Nifty index dropped 146 points trade at 4973.
Indian markets closed lower on Monday after having recovered from the days lows but the recovery was half-hearted and the index failed to close above 5230 levels, which remains the most critical technical resistance for the Nifty.
Asian stock markets nosedived and the Swiss franc held near a record high, investors dumped riskier assets in a global rout triggered by fears that political leaders are failing to tackle debt crises in Europe and the United States.
Brent crude plunged to a six-month trough below $99 a barrel on Tuesday in a two-session drop of more than $10, after a US credit downgrade echoing a global slowdown.
The yellow metal gained 1.7% roaring to all-time highs for a second consecutive session as equity markets dived on growing fears of a global recession post S&P cut of US credit rating.
At 09:15 am, the Hong Kong was trading 6.7 per cent lower, Tokyo was trading 4.4 per cent down, Seoul was trading 3.01 per cent down and Shanghai lost 1.1 per cent.
At 09:16 am, the BSE Sensex slipped 525 points at 16,464 while the Nifty index dropped 146 points trade at 4973.
Indian markets closed lower on Monday after having recovered from the days lows but the recovery was half-hearted and the index failed to close above 5230 levels, which remains the most critical technical resistance for the Nifty.
Asian stock markets nosedived and the Swiss franc held near a record high, investors dumped riskier assets in a global rout triggered by fears that political leaders are failing to tackle debt crises in Europe and the United States.
Brent crude plunged to a six-month trough below $99 a barrel on Tuesday in a two-session drop of more than $10, after a US credit downgrade echoing a global slowdown.
The yellow metal gained 1.7% roaring to all-time highs for a second consecutive session as equity markets dived on growing fears of a global recession post S&P cut of US credit rating.
At 09:15 am, the Hong Kong was trading 6.7 per cent lower, Tokyo was trading 4.4 per cent down, Seoul was trading 3.01 per cent down and Shanghai lost 1.1 per cent.
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