Sensex closes 243.73 points lower

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 17,246.88 points, closed at 16,815.67 points, down 243.73 points or 1.43 percent compared to its previous close at 17,059.4 points.

The markets were battered in the first two trading days of this week over the US sovereign debt rating downgrade and fears of a double dip recession in the largest economy of the world. The 50-scrip S&P CNX Nifty of the National Stock Exchange too ended lower at 5,071.4 points, down 1.3 percent.

Mid-to-smaller stocks too gave up early gains. The BSE midcap index closed 0.68 percent down and the BSE smallcap index ended 0.51 percent lower.