Sensex slips further, down 3.32 percent (Second Lead)

Mumbai, Nov 27 ( A key Indian equities index slipped further into the red Friday after a negative start and was ruling 3.32 percent lower than its previous close, thanks to developments in Dubai.

Indian stock markets joined the tumble in bourses around the world Friday after Dubai government-owned holding company Dubai World, which manages that country’s portfolio of businesses, said it had asked creditors for an extension of six months on debt repayments.

Around 12.40 p.m., the sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened the day at 16,718.8 points, was ruling at 16,294.6 points, down 3.32 percent or 560.33 points, against Thursday’s close at 16,854.93 points.

Around the same time, at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 4,833.65 points, against the previous close at 5,005.55 points, a loss of 3.43 percent.

Broader market indices were also in the red with the BSE midcap index down 3.95 percent and the BSE small cap index ruling 3.4 percent lower.