Mkts open lower; Satyam downfall continues

Equities opened with a huge gap-down Friday as wary investors after the Satyam Computer Services fiasco unwound long positions and created fresh new shorts as well. Press conference by the Satyam's new management to clear air on the company's position didn't go down well with the market, as the share plunged sharply lower. ( Watch )

Bombay Stock Exchange's Sensex was at 9434.85, down 152.03 points and National Stock Exchange's Nifty was at 2857.10, down 63.30 points.

Satyam shares fall 84% at Rs 6.30 on NSE in opening trade.

Meanwhile, Asian markets were down led by decline in share prices of auto and IT companies. Japan’s Nikkei 225 was down 0.8 percent, Korea's Kospi Composite lower by 1.1%, Taiwan shares slipped 0.4%, and Singapore's Straits Times Index weaker by 0.1%