Market falls at open

Mumbai-- At 10:10 am (IST), the BSE 30-share Sensex has lost 189 points at 10668 and the NSE 50-share Nifty is down by 47 points at 3123.

The markets have opened into deep red, Negative opening has dampen the investors confidence and selling intensified across the market. Heavy weights like Reliance Industries, Wipro, ONGC, TISCO, Satyam Computers, M&M and ICICI Banks are facing selling pressure.

Global indices fell sharply, US stocks ended lower. The S&P 500 erased its gain for the year by declining 16.31, or 1.3%, to 1242.29. The Dow dropped 1.5%, to 10,846.29. The NASDAQ lost 1.7%, to 2054.11, its lowest close since October 13, 2005.

European stock markets ended sharply lower. The UK's FTSE 100 lost 1.6% at 5,765, the German DAX Xetra 30 declined 2% at 5,527 and the French CAC-40 fell 1.8% at 4,852.

Asian stock markets were deep in the red this morning. The Nikkei was down 177 points at 14,920 while the Hang Seng tumbled 207 points at 16,098. The Kospi was down 31 points at 1253 and the Straits Times index fell 22 points at 2374.

The Morgan Stanley Capital International Asia-Pacific Index fell 1.8% to 122.33 as of 10:46 a.m. in Tokyo. The index dropped for a fourth day as all 10 industry groups declined. It has lost 3.5% this week.

Mexican stocks dropped due to rising geopolitical tensions and growing elections protests. Mexico's benchmark Indice de Precios y Cotizaciones index was last trading down 428 points, or 2.2%, at 18,991.

Other Latin American markets were also lower. Brazil's Bovespa index was down 1.5% at 35,699, Argentina's Merval was down 1.7% at 1,672 and Chile's Chile's IPSA index was down 0.5% at 2,090. The international oil for August delivery rose $ 1.75 to settle at $ 76.70 a barrel.

At 10:29 am (IST),BEML has shed by 0.2% to Rs. 1007.

BEML has shed by 0.2% to Rs. 1007. The company bagged an export order worth Rs. 420mn. The scrip has touched a high of Rs. 1080 and a low of RS. 991.