Sensex slips below 18,000 as world stocks slump

Mumbai, Aug 12 (IANS) A benchmark index for Indian equities fell below the 18,000 points mark Thursday as Asian markets remained under pressure on fresh concern over the global economic recovery.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), opened deep in the red and plunged 155 points within minutes trading started.

The index recovered marginally later and was trading 86 points down at 17,992 at noon. The 30-share index touched a high of 18009.40 and low of 17914.78.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty also opened in a slump and plunged to a low of 5372.45. The index was trading at 5,402, down 0.34 percent or 18 points from the previous close.

Among the major losers on the Sensex were Sterlite Inds, down 1.92 percent at 169; ITC, down 1.61 percent at 152.50; HDFC Bank, down 1.47 percent at 2052.50 and Wipro, down 1.47 percent at 412.

Other Asian markets also remained under pressure. Japanese Nikkei declined 0.86 percent to 9,212. Hong Kong's Hang Seng fell 1.67 percent to 20,938 and the Chinese Shanghai Composite index was trading 1.25 percent down.

Overnight, the European markets and the Wall Street closed with big losses as investors were wary about the global economy.

-- Indo-Asian News Service

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