Sensex tanks 434 points on global cues, dips below 16000 mark

The Bombay Stock Exchange benchmark Sensex today tanked 434 points to 15,790 points in early trade in line with the meltdown in overseas markets. Marketmen said investors sold shares heavily after a steep fall in the US and Asian stocks markets as poor US job data stoked concerns over the strength of an economic recovery.

The Bombay Stock Exchange benchmark Sensex on Friday tanked 434 points in early trade in line with the meltdown in overseas markets.

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The 30-share index, which had lost 271.10 points in the previous session, plunged further by 434.46 points to 15,790.49 points.

The wide-based National Stock Exchange index Nifty plunged by 129.80 points to 4,715.55 points.

Marketmen said investors sold shares heavily after a steep fall in the US and Asian stocks markets as poor US job data stoked concerns over the strength of an economic recovery sending commodity and energy prices tumbling.