New Delhi - India's stock indices dipped downward by more than 3 per cent Monday after a meeting of the world's leading economies failed to throw up any immediate solutions to the global economic crisis and Japan announced its economy had slid into recession.

The Bombay Stock Exchange's benchmark 30-share Sensex was trading at around 8,990 at noon, about 4.21 per cent below its previous close.

The broader 50-share S&P CNX Nifty of the National Stock Exchange was hovering around 2,704.80, 3.76 per cent below Friday's close.

Tokyo - Tokyo stocks ended modestly higher Monday as investors bought back battered shares, but gains were capped due to anxiety over the slowdown of Japan's economic growth.

The Nikkei 225 Stock Average inched up 60.19 points, or 0.71 per cent, to close at 8,522.58.

The broader Topix index of all first-section issues was also up 3.58 points, or 0.42 per cent, to 850.49.

The government announced Monday that the nation's economy shrank at an annualized rate of 0.4 per cent in real terms in the July-September period.

Tokyo  - Tokyo stocks opened modestly higher Monday as investors bought back battered shares, but gains were capped due to anxiety over the slowdown of Japan's economic growth.

The Nikkei 225 Stock Average edged up 98.8 points, or 1.17 per cent, to 8,561.19.

The broader Topix index of all first-section issues was also up 6.31 points, or 0.75 per cent, to 853.22.

The government announced Monday that the nation's economy shrank at an annualized rate of 0.4 per cent in real terms in the July-September period.

Indian equities on Friday (Nov 14) opened strongly on account of strong worldwide signals and a sharp drop in weekly inflationary numbers.

However, the BSE Sensex shed most of its earlier gains amid choppy trades due to heavy profit booking seen across blue chip stocks.

Doubts regarding the success of different bailout packages declared by governments across the globe and lack of participation by institutional investors contributed to the market’s fall despite a fairly bright start this morning.

Washington  - US stocks dropped Friday, capping a dismal end to another volatile week, over concerns that a slump in retail sales revealed the extent of a looming recession.

The Dow Jones Industrial Average fell 337.94 points, or 3.82 per cent, as investors grappled with the bleak outlook for consumer spending.

Frankfurt - The world's leading central banks are ready to take more steps to stabilize global markets if need be, Ben Bernanke, the chairman of the US Federal Reserve, said Friday.

He said continuing volatility and recent economic indicators show that there are challenges ahead. Bernanke was in Germany to attend a conference sponsored by the European Central Bank to review the history of the euro.