Sensex tanks over 530 points to crash below 26,000-level

India's manufacturing sector output shrinking to a 28-month low in December and fresh weakness in the rupee, accelerated selling activity.

Last Updated: Jan 04, 2016, 15:51 PM IST
Sensex tanks over 530 points to crash below 26,000-level

Zee Media Bureau

The benchmark BSE Sensex crashed below 26,000-level while the wider 50-scrip Nifty of the National Stock Exchange (NSE) plunged 171.90 points to end at 7,791.30 on Monday.

Sensex tumbled 537.55 points to close at 25,623.35, tracking global sell-off amid concerns over slowdown in China and escalating tension in the Middle East.

In addition, India's manufacturing sector output shrinking to a 28-month low in December and fresh weakness in the rupee, accelerated selling activity.

Besides, investors were seen cautious regarding the upcoming third-quarter earnings season which starts from January 14.

Among other Asian markets, Shanghai Composite Index led the meltdown by ending 6.9 percent lower. Meanwhile, authorities in China suspended trading on the country's stock markets in the early afternoon after shares sank 7 percent.

Japan's Nikkei tumbled 3.06 percent and Hong Kong's Hang Seng was down by 2.68 percent. European markets were also down in their opening trade.