Market mayhem: Sensex crashes 800 points to crack 23,000-level
The benchmark BSE Sensex slumped by over 800 points or 3.45 percent to 22,950.90 while the Nifty crashed 232.30 points or 3.21 percent to 6,983.40.
Mumbai: Market benchmark Sensex crashed below 23,000-level in pre-close session after nosediving over 800 points while the NSE Nifty broke 7,000-mark Thursday on massive sell-off in banks and persistent foreign fund outflows.
The benchmark BSE Sensex slumped by over 800 points or 3.45 percent to 22,950.90. The Nifty crashed 232.30 points or 3.21 percent to 6,983.40.
Barring Cipla, all the stocks from the 30-share Sensex traded down. Besides, all the sectoral indexes led by realty, bank, metal and power were lower by up to 6.24 percent.
Brokers said persistent selling by participants, tracking a weak trend at Asian markets where Hong Kong stocks plunged 5 percent to three-year low today, leading another sell-off across Asian markets and extending a global rout.
Furthermore, depreciating rupee against the dollar also negatively impacted sentiment, they said.
European markets were also lower in their early trend.