India's benchmark stock index slips more than 2 percent

Indian shares sank Monday amid a regional market sell-off Monday, but the benchmark index trimmed losses as the morning progressed.

The 30-company benchmark index of the Bombay Stock Exchange, the Sensex, fell 422 points, or 2.2 percent to 18,591 points, after falling as much as 3.6 percent in the first half-hour of trading.

On the rival National Stock Exchange, the 50-share S&P Nifty index was down 136 points, or 2.4 percent, at 5,569 points.

"Indian markets are responding to global weakness," said Rajesh Jain, chief executive officer at brokerage firm Pranav …