Sensex drops 312 points in initial trade

The benchmark index opens with a wide downside gap of 182 points at 19,603.09 on weak global cues.

The benchmark Sensex on Friday opened with a wide downside gap of 182 points at 19,603.09 on weak global cues due to heightened fears about a slowdown in the US economy following further disclosures of credit and housing problems.

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The Bombay Stock Exchange (BSE) barometer later fell to a low of 19,472.51, a loss of 312.38 points in the initial five minutes of trading from yesterday's close of 19,784.89.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) dropped sharply by 94.70 points to a low of 5,817.40 from previous close of 5,912.10.