April 04 2020
Sensex opens weak as fear of recession grips world Markets
22 September 2011

The BSE Sensex opened over 180 points down on Friday amid weak global cues following speculations that a global recession is already under way.

At 9.35 am, the 30-share BSE benchmark index tanked 209.10 points at 16152.05. Similarly, Nifty was down 35.65 points at 4888.00.

Asian markets also opened weak on Friday with Hong Kong's Hang Seng index falling 2.3 per cent to 17,493.07, a day after tumbling nearly 5 per cent. South Korea's Kospi plunged by 4.8 per cent at 1,713.56. Australia's S&P ASX 200 fell by 1.4 per cent to 3,909.5. Markets in Japan were closed for a public holiday.

The Dow Jones industrial average fell 3.5 per cent to close at 10,733.83. It was the second consecutive rout in the stock market since Wednesday afternoon, when the Federal Reserve announced a change in strategy for fighting the economic slowdown - a bid to lower long-term interest rates and get people and companies to spend more money.



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