Sensex down 572 points in early trade

Mumbai, Mar 10 : The Bombay Stock Exchange (BSE) benchmark Sensex lost 572 points and was pegged at 15,404 in early trade today on selling by funds in heavy-weight stocks, led by capital goods.

The National Stock Exchange (NSE) Nifty is down by 135 points at 4,636.

Stocks opened sharply lower today, extending losses in markets overseas as prospects of a US recession and worsening global credit conditions taunted investors.

Sectorwise, capital goods, real estate and banking shares were the worst hit.

The BSE's 30-share index, which closed at 15,975.52 points on Friday, plunged by 483.44 points to 15,492.08 in the first five minutes of trade. Similarly, the NSE index Nifty dropped by 136.95 points to 4,634.65.

According to market sources, selling pressure gathered momentum following reports of a melt down in the US market on rising concern of recession and the Sensex suffered the most as bluechip stocks like Larsen and Toubro and Reliance Energy fell sharply.

ANI