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Market downslide continues, Sensex slips 2 pct

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After a relatively lacklustre morning session, the stock market slipped during the last few hours of trade on Tuesday. The benchmark index closed at 8427, down 2.09 percent.

MARKETS-SOUTHASIA-STOCKS/Heavy falls in foreign markets and concerns about the global outlook continue to weigh on investor sentiment.

Reliance Industries, which has the heaviest weightage in the Sensex, led the slide and ended with losses of 2.1 percent.

All sectoral indices closed in the negative territory. The consumer durables index was down 3.1 percent while the banking index slipped 2.1 percent.

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