Markets across Asia and Europe decline on concerns over global economic recovery faltering; the Sensex is trading lower by 98 points at 18,311, Nifty ended at 5505, lower by 38 points
Most of the Asian indices also ended in the red; Japan's Nikkei 225 Stock Average entered into the bear market phase, declined by 1,3% to close at 8,995, Seoul Composite and Taiwan Composite also ended lower by 0.4%, Hang Seng index declined by 1.1%;
However Shanghai Composite bucked the trend to close up 0.4%.
Markets in Europe are trading lower dragged by losses in mining and energy stocks.
The FTSE 100 is down 1.1% at 5173.
The DAX and CAC are down almost 1% each. The US futures also indicate a weak opening as Dow Jones Futures are trading down around 73 points.
Metal and Realty counters continue to sag, down 2.8% and 2.2% each; BSE Consumer Durbales bucks the trend, is up 0.4%.
Only 6 components are trading in the green on Sensex, Bharti Airtel is up 1.7%, Rcom and SBI are up over 0.5% each.
From the metal space Sterlite Industries is the top loser on Sensex, down 3.8%, followed by Hindalco, down 3.7%; from the Realty space DLF and Reliance Infra are down over 2% each.
Broader markets are extending losses, midcap and smallcap indices are down by 0.8% each.
Market breadth is negative, 1802 stocks are declining for 1122 advancing stocks.
