The stock markets opened weak and went down by 220 points in early trading session. The markets were weak due to weakness across global markets after fears of economic recession in the United States. The credit problems which emerged recently in the US will have an impact in the coming days over economy. The employment report has shown a decline in jobs across various sectors in the United States.

As the stock markets in United States were weak, the Indian markets also opened weak and continued trading in the negative territory. Adding to the weak sentiment was the fall in major Asian markets this morning. The Nikkei, Singapore ST and Hang Seng were all down in early trading sessions.

BSE sensex opened with a 178 point loss at 15,413. The markets saw a low for the day at 15,365 within a first few minutes of trading. Indian stock recovered smartly over the past two weeks. The markets ended for 9 continued trading sessions in positive zone.

Indian markets are strong and have good valuations. The companies are showing good numbers. Inflation is low and India is among major emerging markets with good returns.

The decline in stock prices was seen across the board. The metal counters and technology stocks were among the worst hit. However, the markets recovered slightly after one hour. The markets were trading at 15,540.17 11.40 am.