Sensex tumbles 221 pts in late morning trade

The benchmark S&P BSE Sensex continued to decline in late morning trade today on persistent selling, mainly in banking, power, capital goods, PSU, metal and auto sectors, triggered by fall in global markets.
The market sentiment was also affected adversely as provisional data from the stock exchanges showed that foreign funds remained net sellers at they sold shares worth a net Rs 244.95 crore last Friday.
Depreciation of rupee against the dollar is another factor behind fall in share value.
The Sensex resumed lower at 19,643.89 and dropped further to 19,495.24 before quoting at 19,505.92 at 1030 hrs, showing a loss of 221.35 points or 1.12 per cent from last weekend's level.

The NSE 50-share Nifty also fell by 65.85 points or 1.13 per cent to 5,767.35 at 1030 hrs.
Major losers were BHEL (4.06 per cent), Tata Steel (3.82 per cent), Bharti Airtel (3.45 per cent), ICICI Bank (3.28 per cent), NTPC (2.67 per cent), M&M (2.51 per cent), SBI (2.27 per cent) and Larsen (1.99 per cent).
Asian stocks fell in early trade on concern the US government is headed for a shutdown amid a budget stalemate. Key benchmark indices in Japan, Hong Kong, Taiwan, Singapore and South Korea fell 0.51 per cent to 1.54 per cent while China's Shanghai Composite rose 0.61 per cent.