Global markets slide; Sensex below 11K, down 859pts

The Sensex opened with a negative gap of 379 points at 11,316 on the back of global meltdown. The index slipped deeper in red and broke the 11,000-mark in the first hour of trades today. The index is now down 859 points at 10,837 at sun outage break.

Sterlite has nose-dived over 14% to Rs 269, and Satyam has slumped over 13% to Rs 243.

HDFC Bank and Jaiprakash Associates have tumbled 11.5% each to Rs 998 and Rs 90, respectively.

Tata Steel, Reliance Communications, Tata Power and ICICI Bank have plunged around 10% each to Rs 320, Rs 270, Rs 690 and Rs 438, respectively.

Reliance Infrastructure, Wipro, Reliance and TCS have shed around 9% each at Rs 590, Rs 278, Rs 1,525 and Rs 525, respectively.

Hindalco has dropped 7.7% to Rs 88, and Infosys has slipped 7.3% to Rs 1,209.

All index stocks are in negative zone with a minimum loss of 2% each.

Elsewhere in the world, the Dow and the Nasday, yesterday, plunged over 500 and 100, points, respectively amid growing fears of a deeper recession.

Major Asian markets, too, are down deep into red. Nikkei has tumbled 9.8% to 9,160. Hang Seng and Taiwan Weighted indices have slumped around 5.5% each to 15,871 and 5,206, respectively. The Straits Times index has shed 6.5% at 2,036, and Seoul Composite index has dropped 5.8% to 1,287.