Benchmark indices lose over 1% each in opening deals; Nifty nears 5,200
Markets cracked in the opening trades with the benchmark indices opening lower by over 1% each as Rupee collapsed to a new record low of 67.98/dollar.
At 0916 hrs, the Sensex was down 220 points at 17,747 and the Nifty slipped 78 points to trade at 5,209.
In the broader markets, the fall was minimal as compared to the loss on the BSE benchmark index. The smallcap index was down 0.3% and the midcap index gave of 0.8%, both outperforming the Sensex which was down 1.2%.
In Asia, too, jitters over a possible U.S.-led military strike against the Syrian government knocked Asian equities on Wednesday, with Japan's Nikkei hitting a two-month low, and pushed oil prices and safe-haven gold to multi-month highs.
Tokyo's Nikkei share average sagged 2.4% to a two-month low, while the yen was largely steady at 97.00 to the dollar and 129.870 to the euro after climbing more than 1% overnight.
MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.5% on Wednesday, extending the previous session's 1.2% drop.
Overnight, U.S. and European stocks suffered their worst day since June, and investor nervousness was reflected in a nearly 12% jump on the CBOE volatility index, Wall Street's so-called fear gauge, to a two-month high.
Markets cracked in the opening trades with the benchmark indices opening lower by over 1% each as Rupee collapsed to a new record low of 67.98/dollar.At 0916 hrs, the Sensex was down 220 points at 17,747 and the Nifty slipped 78 points to trade at 5,209.
In the broader markets, the fall was minimal as compared to the loss on the BSE benchmark index. The smallcap index was down 0.3% and the midcap index gave of 0.8%, both outperforming the Sensex which was down 1.2%.
In Asia, too, jitters over a possible U.S.-led military strike against the Syrian government knocked Asian equities on Wednesday, with Japan's Nikkei hitting a two-month low, and pushed oil prices and safe-haven gold to multi-month highs.
Tokyo's Nikkei share average sagged 2.4% to a two-month low, while the yen was largely steady at 97.00 to the dollar and 129.870 to the euro after climbing more than 1% overnight.
MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.5% on Wednesday, extending the previous session's 1.2% drop.
Overnight, U.S. and European stocks suffered their worst day since June, and investor nervousness was reflected in a nearly 12% jump on the CBOE volatility index, Wall Street's so-called fear gauge, to a two-month high.
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