Bloodbath on D-Street: Sensex plunges 1000 points, rupee hits record low
Mumbai, Oct 11: Benchmark indices BSE Sensex and NSE's Nifty 50 opened lower on Thursday in line with global markets. Asian share markets sank in a sea of red after US stocks suffered its worst drubbing in eight months. BSE Sensex plunged 953.32 points, or 2.74%, to 33,807.57, while the Nifty 50 sank 304.45 points, or 2.91%, to 10,155.65.
Shanghai shares touched their lowest since late 2014, while Japan's Nikkei fell 3.4%. In US, the S&P 500 ended Wednesday with a loss of 3.29% and the Nasdaq Composite 4.08%, while the Dow shed 2.2%. SGX Nifty Futures traded 262 points lower, indicating a negative start for the Sensex and the Nifty 50. Oil prices dropped to extend big losses from the previous session as global stock markets suffered a rout. Here are the latest updates from the markets:
Meanwhile, the Indian rupee plunged to a fresh low against the US dollar after the government cut excise duty second time in a week and amid sell-off in global markets.
At 9.07am, the rupee was trading at 74.42 a dollar, down 0.26% from its Wednesday's close of 74.22. The currency opened at 74.31 and touched a fresh low of 74.46 a dollar.
The 10-year gilt yield stood at 7.999% from its previous close of 8.031%. Global markets fell as fresh concern about the impact of the trade war with China roiled technology and industrial shares.