Market mayhem: Global sell-off, weak rupee jolt Sensex, ends 760 points down; Nifty below 10,250

NEW DELHI: Equity markets on Thursday witnessed a massacre with the benchmark BSE Sensex crashing over 750 issues to finish only a tad above the 34,000-mark. The 30-share BSE index closed 760 issues lower at 34,001, whilst the 50-share NSE index ended 225 issues down at 10,235.

Both the BSE and NSE indices lost more than 2 consistent with cent each.

On 30-share BSE index, simply 3 shares -- ONGC, Yes Bank and Hindustan Unilever -- managed to realize and the remainder of all traded in red shedding up to five.74 consistent with cent.

On NSE, sub indices Nifty PSU Bank and Nifty Metal cracked essentially the most, shedding up to five.16 consistent with cent.

In the early industry these days, markets nosedived more than 1,000 issues amid the rupee touching new lows and global sell-off. Both the factors endured to stay the equity indices underneath power in the late-afternoon offers too.

"What happened in US yesterday had a ripple effect here today. The IMF has downgraded global growth rate, US growth rate for next year, both these had impact on markets," a finance ministry official mentioned.


"There is nothing to worry about the current market condition. Indian equity and rupee markets are impacted by external factors. Inflation is well within limits and the fundamentals of Indian economy remain strong," the official added.


A pointy fall in domestic equity markets was the principle driver for the rupee’s prolonged decline, because it heightened concerns about additional overseas portfolio outflows.


Confidence has ebbed in the markets in fresh weeks. A liquidity scare erupted last month after a series of debt defaults by Infrastructure Leasing & Financial Services (IL&FS) sparked redemption power at other shadow banking companies.


(With inputs from PTI)
Market mayhem: Global sell-off, weak rupee jolt Sensex, ends 760 points down; Nifty below 10,250 Market mayhem: Global sell-off, weak rupee jolt Sensex, ends 760 points down; Nifty below 10,250 Reviewed by kailash soni on October 11, 2018 Rating: 5
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