Markets remain higly volatile

Mumbai, Jan 22: Markets remain highly volatile after the trading was closed for an hour on tuesday as there was a virtual bloodbath on Mumbai streets.

Trading has been put on hold for one hour in Indian equity market as benchmark indices Sensex and Nifty crashed sharply in the early trading session following global meltdown. Sensex plunged 2029.05 points, or 11.53 per cent, to hit a low below 16K after resuming the day on negative note at 16,884.09 from its previous close at 17,605.35.

Similarly, Nifty tumbled 600.45 points, hitting below 5,000 in the early trade. Trading will be resumed at 1055 hrs, brokers said.

Trading was suspended for one hour at the Bombay Stock Exchange after the Sensex crossing the circuit limit of 10 per cent. At the time of suspension, the Sensex was quoted at 15,576.30 points, plunging 11.53 per cent on the worries over US Economy heading towards recession, brokers opined.

Similar trend was witnessed at the National Stock Exchange's Nifty index which opened at 5,203.35 and tumbled down at 4,569.50, a slide of 12.1 per cent.

UNI