Thursday carnage as Sensex crashes 760 pts on global selloff

Benchmark indices BSE Sensex and NSE’s Nifty 50 closed over 2% lower on Thursday amid selloff in global markets. In opening trade, both the indices fell over 3% with the Sensex plunging 1,037 points to 33,723.53 and the Nifty 50 falling 321 points to 10,138.60.

Sensex ended the day 759.74 points, or 2.19%, down at 34,001.15, while the Nifty 50 ended 225.45 points, or 2.16%, lower at 10,460.10.

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Shares of IT, finance and metal sectors were worst hit. Losses were, however, capped as shares of oil companies such as Reliance Industries, HPCL and Indian Oil gained after oil prices fell nearly 2%.

The rupee also rebounded from its fresh all-time low after crude oil prices and the US dollar fell.

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In global markets, biggest stock slump since February rolled through Asia, US and Europe, reported Bloomberg, with benchmarks from Tokyo to London slumping as fresh fears for global trade added fuel to a recent selloff. The worst of the declines were in Asia, where China’s Shanghai Composite gauge tumbled more than 5% intraday.

Oil prices slumped to two-week lows as global stock markets fell.

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