New Delhi - Indian equities dropped more than 6 per cent Tuesday, largely because investors were selling stocks to lock in profits from previous gains given the gloomy global economic outlook and negative trading on other Asian markets, analysts said.

A fall in India's exports for the first time in five years in October added to the negative outlook.

The 30-share Sensitive Index of the Bombay Stock Exchange closed at 9,839.69 points, 6.61 per cent below Monday's close.

The broader 50-share Nifty of the National Stock Exchange closed 6.66 per cent lower at 2,938.65.

The Sensex fell below the 10,000 level on the back of heavy selling action, weak global markets and fears of a deep and prolonged recession.

Realty, oil & gas, consumer goods and metal stocks were hammered badly.

The various relief and rescue packages declared by worldwide central banking institutions failed to lift investor response.

At 1:37 p.m., the 30-share index, BSE Sensex stood at 9936.97, down 599.19 points, from its previous closing mark, while the broad-based Nifty slipped to 2971.30, down 176.95 points.

Hong Kong - Hong Kong shares fell by almost 5 per cent Tuesday as enthusiasm over China's 600-billion-US-dollar economic stimulus package waned amid fresh fears over corporate results.

The blue-chip Hang Seng Index lost 703.73 points, or 4.77 per cent, to close at 14,040.9. Turnover was 54.3 billion Hong Kong dollars (7 billion US dollars).

New Delhi  - Indian equities dropped about 5 per cent soon after opening Tuesday, largely because investors were selling stocks to lock in profits from previous gains, given the gloomy global economic outlook and negative trading on other Asian markets, analysts said.

The 30-share Sensitive Index of the Bombay Stock Exchange traded at 10,006.1 shortly after noon (0700 GMT), 5.03 per cent below Tuesday's close.

The broader 50-share Nifty of the National Stock Exchange was down 4.92 per cent at 2993.25.

The Indian indices had gained more than 8 per cent during the past two trading days, and Tuesday's losses were registered by the same counters that had seen the largest gains - metals, banking, and oil and gas.

Seoul  - Shares fell more than 2 p

Tokyo  - Tokyo stocks ended Tuesday trading lower after the US market declined overnight on grim earnings outlooks and the yen's advance against other currencies.

The Nikkei 225 Stock Average fell 272.13 points, or 3 per cent, to close at 8,809.3.

The broader Topix index of all first-section issues also dropped 27.29 points, or 2.98 per cent, to 889.36.

Goldman Sachs Group Inc, technology giant Google Inc and automaker General Motors Corp all suffered downgraded outlooks the day before.