NEW DELHI: The S&P BSE Sensex slipped over 200 points in trade on Wednesday following Asian markets which were trading lower after weak factory survey from China fuelled fears of an entrenched global economic slowdown.The 50-share Nifty index broke below its crucial psychological support level of 7,800, and was now trading around its crucial level of 7,750, weighed down by losses in Pharma, auto, capital goods, metal, realty, and power stocks.

Tata Motors and Tata Steel slipped 2 per cent on worries over Chinese economy underlined by a weak September flash PMI data. MothersonBSE -2.56 % Sumi was down 4 per cent while L&T, Vedanta were down 3 per cent. Visa Steel was up more than 16 per cent.Continuing its fall for the third consecutive session, the rupee depreciated by 18 paise to 66.06 against the US dollar on Wednesday. The domestic currency had fallen 15 paise against the greenback to close at 65.88 in the previous session on sustained dollar demand from banks and importers.

Most Asian stock indices traded with losses after fears of an entrenched global economic slowdown gripped investors, underlined by a weak China September flash PMI data. The Chinese markets traded with deep losses; Shanghai Composite slipped 2 per cent while Hong Kong’s Hang Seng index tumbled 3 per cent. South Korea’s Kospi and Australia’s ASX 200 slipped about 2 per cent.

Source : http://economictimes.indiatimes.com/markets/stocks/news/sensex-slips-over-200-points-nifty-slips-below-7750-on-weak-global-cues/articleshow/49069400.cms

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