Just in: Sensex closed 100 points down at 8,739 mark. Nifty fell 25.10 points to settle at 2657.80. Though it recovered in mid-day trade, the continuous sell-off in oil, technology, banking, auto and metal stocks dumped the markets in red.
5:13 PM 12/2/2008
Mumbai, Dec 2: The markets opened with a huge gap down following weak cues from global markets. In the US, the National Bureau of Economic Research, or NBER, officially confirmed that the US is in recession, which started in December 2007.
The Sensex fell 278 points to 8,561 and the Nifty lost 80 points to 2,602, at 9:56 am. CNX Midcap tumbled 69 points to 3,190.
10:40 AM 12/2/2008