Indian shares fall more than 2 pct in early trade
Indian stock markets have opened on monday sharply lower following weak global cues. Selling pressure is seen in metal, realty, telecom, power, capital goods, oil & gas and banking stocks. Nifty is trading at lowest level since March 20, 2007.
Indian shares fell more than 2 percent early on Monday on fears of further foreign fund outflows as the financial crisis gathered steam in Europe, overshadowing the passage of $700 billion U.S. bailout.
By 9:57 a.m. (0427 GMT), Tata Motors was down 2.03 percent at 328 rupees after it decided to move the factory for its low-cost Nano car out of West Bengal after violent protest by farmers.
The 30-share main index was down 2.4 percent, or 297.64 points, at 12,228.68 after opening 1.93 percent lower.
The 50-share NSE index dropped 2.7 percent to 3,712.25.