Mumbai, Sep 23 (IANS) A benchmark index for Indian equities Friday slipped further into the red, about two hours after opening bell as selling pressure intensified amid negative cues coming from global bourses.


The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,222.37 points, was ruling at 16,059.37 points, down 301.78 points or 1.83 percent from its previous close at 16,361.55 points.

A sell-off in stock markets around the world Thursday had sent the Sensex plummeting 704 points - its worst fall in over two years.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading lower Friday morning, 1.85 percent down at 4,832.8 points.

Broader markets were in the red too. The BSE midcap index was down 1.62 percent, while the BSE small cap index was ruling 1.72 percent lower and the BSE 500 was down 1.6 percent.

The market breadth was negative with 571 stocks advancing, compared to 1,831 on the decline and 72 remaining unchanged.

Asian markets were in a slump for the second straight day as traders continued to sell out in the wake of a gloomy outlook by the US Federal Reserve that said the global economy could fall into another bout of recession led by Western countries.

Hong Kong's Hang Seng index was ruling 2.18 percent down at 17,521.27 points, while the Chinese Shanghai Composite index was ruling 1.25 percent lower at 2,412.45 points.

The Japanese markets were closed Friday on account of a holiday.