Sensex Falls 200 Points, Nifty Below 24,850; Airtel Down 2%

Benchmark equity indices BSE Sensex and Nifty50 were down at pre-open on Monday, weighed down by weak sentiment flowing from US markets, when investors there made a dash for safe heaven assets there on Friday.

At opening bell, the BSE Sensex was down 170 points, or 0.21 per cent, at 81,013, while the Nifty 50 was at 24,790, lower by 62 points, or 0.25 per cent.

Global Cues

Share markets in Asia slid on Monday after worries about a possible US economic downturn slugged Wall Street, while dragging bond yields and commodity prices lower as investors avoided risk assets for safer harbours.

Japan’s Nikkei bore the brunt of the early selling as a stronger yen pressured exporters, losing 2.4 per cent on top of a near 6 per cent slide last week.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.6 per cent, after losing 2.25 per cent last week.

S&P 500 futures and Nasdaq futures were both a fraction lower after Friday’s slide.

On Friday, Wall Street indexes closed sharply lower. The Dow Jones Industrial Average fell 410.34 points, or 1.01 per cent, to 40,345.41, the S&P 500 lost 94.99 points, or 1.73 per cent, to 5,408.42 and the Nasdaq Composite lost 436.83 points, or 2.55 per cent, to 16,690.83.