Thursday 9th, April 2020
canara news

Sensex, Nifty tumble over 3 per cent as global equity rout deepens

Published On : 24 Aug 2015


Mumbai, Aug 24 (PTI) In its biggest intra-day crash this year, stock market benchmark Sensex plunged by 1,006 points while Nifty fell below 8,000 level in early trade on Monday due to heavy selling by funds amid global sell-off as worries about China's economy deepen.

Asian markets were also in deep red with Shanghai shares crashing 8 per cent on concerns that the Chinese economy was slowing more than previously thought.

Taking cues from global markets, the Sensex nosedived 1,006.54 points, or 3.67 per cent, to 26,359.53-- the biggest fall in day trade in 2015.

The broader NSE (National Stock Exchange) Nifty also dipped below the 8,000-level by tumbling 309.05 points, or 3.72 per cent to 7990.90 in early trade. All 50 constituents of Nifty were in red with Tata Motors and ONGC losing the most up to 6 per cent.

Brokers said sentiments suffered a jolt following a sell-off in other Asian markets with over 8 per cent plunge in Shanghai index.

Among major Sensex losers, ICICI Bank fell by 4.5 per cent, Infosys by 3 per cent, Axis Bank by 5.3 per cent, Reliance by 4 per cent and HDFC by 3 per cent. Tata Motors fell by over 6 per cent.

Vedanta and GAIL Ltd also fell up to 6 per cent.

At 0930 hrs, the Sensex was down 848.77, or 3.1 per cent, at 26,517.30 points. The 50-share Nifty was down 267.10 points, or 3.22 per cent, at 8,032.85 woth all the constituents in the negative.

Meanwhile, crude prices fell after slipping below USD 40 barrel for the first time in six years after weak Chinese manufacturing data.

Among other Asian markets, Shanghai Composite dived 8.35 per cent, Japan's Nikkei dropped 3.10 per cent and Hong Kong's Hang Seng 3.26 per cent.

The US Dow Jones Industrial Average ended 3.12 per cent down in Friday's trade.







More News

Sensex, Nifty fall 1% as crude oil prices surge
Sensex, Nifty fall 1% as crude oil prices surge
Aamir Khan calls 'Thugs of Hindostan' role one of his toughest
Aamir Khan calls 'Thugs of Hindostan' role one of his toughest
Fuel prices continue to fall as global crude rates ease
Fuel prices continue to fall as global crude rates ease

Write your Comments

Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. canaranews.com will not be responsible for any defamatory message posted under this article.

Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on CANARANEWS to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using canaranews will be purely at your own risk, and in no way will canaranews.com be held responsible.