Sensex tanks over 475 points on global sell-off; weak Chinese data, US rate hike fear triggers slump

In a sharp plunge, market benchmark Sensex slumped over 475 points to 27,607.32 at mid-session as selling pressure gathered momentum, mirroring falls across Asia and a lower opening on European bourses following worse-than-expected economic data from China.

PTI October 13, 2016 14:59:33 IST
Sensex tanks over 475 points on global sell-off; weak Chinese data, US rate hike fear triggers slump

Mumbai: In a sharp plunge, market benchmark Sensex slumped over 475 points to 27,607.32 at mid-session as selling pressure gathered momentum, mirroring falls across Asia and a lower opening on European bourses following worse-than-expected economic data from China.

Sensex tanks over 475 points on global selloff weak Chinese data US rate hike fear triggers slump

Reuters

Moreover, trading sentiment was dampened with minutes of the US Federal Reserve's September meeting signalling a possible rate hike this year, brokers said.

Besides, the rupee also plummeted by 41 paise to 66.94 against the dollar (intra-day) at the forex market, fuelling selling pressure in domestic equities.

The Sensex, which had lost over 265 points in early trade, continued its slide and was quoting sharply lower by 475.02 points, or 1.69 percent, to 27,607.32 at 1400 hours, with all sectoral indices led by realty, metal and consumer durables slumping by up to 3.28 percent.

On similar lines, the National Stock Exchange index Nifty broke below the 8600-mark by dropping 145.10 points, or 1.67 percent, to 8,563.70.

Most of the 30-Sensex constituents led by Adani Ports, Tata Motors, ICICI Bank, HDFC Ltd, SBI, Reliance Industries, Axis Bank, Lupin, Hindustan Unilever, Bharti Airtel,Coal India, Sun Pharma and Power Grid were rading in the negative terrain, falling by up to 5.23 percent.

In the Asian region, Japan's Nikkei fell 0.39 percent, while Hong Kong's Hang Seng lost 1.67 percent. European markets led by London, Paris and Frnkfurt too were in weak form and were down by up to 1.31 percent in their early deals today.

Updated Date:

also read

Market Roundup: Sensex falls by 101 points, Nifty ends at 18,114; check top winners and losers here
Business

Market Roundup: Sensex falls by 101 points, Nifty ends at 18,114; check top winners and losers here

The top gainers were HDFC, Bajaj Auto, IndusInd Bank, Kotak Bank and Axis Bank

Market Roundup: Sensex falls by 456 points, Nifty ends at 18,266; check top gainers and losers here
Business

Market Roundup: Sensex falls by 456 points, Nifty ends at 18,266; check top gainers and losers here

BSE Midcap saw a fall of 503.75 points, settling at 25,914.53, while BSE Smallcap declined by 683.87 points and fell to 28,878.73

Market Roundup: Sensex falls by 49 points, Nifty ends at 18,418; check top gainers and losers here
Business

Market Roundup: Sensex falls by 49 points, Nifty ends at 18,418; check top gainers and losers here

BSE Midcap fell by 1.98 percent to 26,418.28 while BSE Smallcap declined by 1.79 percent to 29,562.60