Sensex slumps 220 points on weak Asian cues

A benchmark index for Indian equities markets fell 220 points in the afternoon trading Monday on sustained selling pressure due to weak cues from Asian peers.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the negative at 17,407.66 points, was ruling 1.25 percent or 218.19 points down at 17,267.83 points in the afternoon session.

The Sensex touched a low of 17,243.69 points and a high of 17,407.66 points in intra-day.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was down 1.27 percent at 5,255.30 points.

There was heavy selling pressure in metal, consumer goods, power and banking stocks.

The BSE metal index was down 2.62 percent. The consumer goods index was ruling 2.52 percent lower, power index was down 1.95 percent and the banking index was down 1.60 percent.

Most other Asian markets was also trading weak. Japan’s Nikkei fell nearly 1.3 percent.