Stock markets, registered sharp losses today, rocked by sell-offs across global markets spooked by escalating global trade tensions and warnings of a growth slowdown.
BSE benchmark index Sensex declined 759 points to end at 34,001 and the NSE Nifty settled at 10,234, down 225 points from the previous close.
A selloff in most sectors dragged the markets lower, with the Sensex falling as much as over 1,000 points intraday trade, before some recovery from those levels by the end of the session.
The Nifty Bank comprising banking stocks and having the maximum weightage on the Nifty among sectoral indices declined 2.1 per cent.
Top laggards on the 5-scrip Nifty index were Indiabulls Housing Finance, Bajaj Finserv, SBI, Tata Steel and Hindalco Industries – closing between 4.6 per cent and 9.1 per cent lower.
The rupee fell to a record low of 74.48 per dollar, taking its overall losses to more than 16 per cent so far this year.
TCS shares declined 2.4 per cent, ahead of release of quarterly earnings by the company.
Asian share markets sank in a sea of red after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe.
One a net basis, foreign funds have so far sold $3.9 billion worth of domestic stocks and $7.8 billion worth of domestic debt so far in 2018. That compares with net purchases of $7.86 billion in equities and $26.26 billion of debt in 2017.>