Sensex sheds 205 points, Asia weak

Mumbai (IANS) - A benchmark index for Indian equities slid further in noon trade to rule 205 points lower than its previous close, tracking other Asian markets which were in the red.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,015.66 points, was trading in noon trade at 17,827 points, 205.11 points or 1.14 percent down from its previous close at 18,032.11 points.

It had fallen to 17,820.7 points earlier.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling 1.2 percent down at 5,350.45 points.

Broader markets indices were ruling in a slump. The BSE midcap index was down 1.45 percent while the BSE smallcap index was ruling 1.52 percent lower.

Realty, energy, metal and consumer durables scrips bore the selling pressure most. All 13 BSE sectoral indices were in the red at this time.

The market breadth was negative with 609 scrips advancing, compared to 2,129 stocks declining and 71 remaining unchanged.

Concern about the US economic recovery led to a wide-spread sell-off in other Asian markets. Weak consumer demand data in the US sparked off fears of a further slowdown in the world's largest economy. The markets were also tracking the fall in key US indices in Monday's trade.

The Japanese Nikkei fell a sharp 3.55 percent to close at 8,824.06 points.

The Chinese Shanghai Composite index was ruling 0.79 percent lower at 2,631.73 points, while Hong Kong's Hang Seng was down 1.08 percent at 20,513.05 points.