January 27, 2010 2:08 PM

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Sensex tanks over 400 points in afternoon trade

The Sensex at the Bombay Stock Exchange fell 189 points, or 1.1 per cent, to 16,592, in opening trade, on Wednesday, on continued selling pressure, amid weak Asian markets. Tuesday's monthly expiry in the derivatives segment also dampened market sentiment. Slipping further the Sensex stood 415 points, or 2.5 percent in the red, at 16,365 a short while ago. Other Asian markets fell for the eighth straight day, today, on fears that China's efforts to rein in soaring credit growth could hamper global economic recovery.Key stock indices in Japan, Hong Kong, Singapore, South Korea, Taiwan and China were down by between 0.3 percent and 1 percent.

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