Stocks opened lower on Tuesday after oil prices jumped by a record and on concerns that the $700 billion US financial-industry bailout would not prevent a recession.
National Stock Exchange’s benchmark Nifty fell 75 points to 4148.40.
Bombay Stock Exchange’s 30-share Sensex dropped 271 points to 13721 from Monday’s close.
Oil prices soared to an intra-day high of $130 a barrel on Monday, before easing, in a rally sparked by the expiry of the front-month futures contract and weakness in the US dollar. US light crude for November delivery was down 42 cents at $108.95 a barrel
Tuesday, September 23, 2008
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