Sensex plunges 1270 points, the biggest decline since 2015

Sensex plunges 1270 points, the biggest decline since 2015

Sensex plunges 1270 points, the biggest decline since 2015

At 8:30 am today, SGX Nifty, an early indicator of the Nifty50's trend in India, was trading at 10,328, down by 367.50 points or 3.44 per cent.

Elsewhere in Asia, Japan's Nikkei was down 5.4%, while China's Shanghai Composite Index shed 4.7%. Domestic brokerage firm Angel Broking in a report today said that a fall in Indian is likely amid sell off in global indices.

BSE Sensex was down 618.46 points or 1.78 percent at 34,138.70.

Stock market bloodbath has wiped out a staggering Rs 9.6 lakh crore from investor wealth in three days with the rout continuing amid sell-off in world markets.

The rising worldwide crude oil prices, income from INC and inflation are the major risk factors for the economy. Crude oil futures continued to fall as the global benchmark Brent Crude Futures hit a one-month low of $66.9 per barrel from $67.02.

What exactly has accelerated the stock market sell-off? The intraday recovery came as US index futures recouped early losses and pointed to some relief following the overnight slump. In the US, Dow Jones fell over 1,100 points on Monday, logging its biggest fall since six-and-half years after US wage data on Friday pointed to quickening inflation which may lead to higher rates by the US Federal Reserve. But bonds gained as investors sought safe havens. "This is concern that the economy is actually doing much better than, we need to re-evaluate".

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BJP also discussed its poll strategy with Rijiju and the party workers were determined to win all the 20 seats, he added. The BJP has dumped its 15-year-old alliance partner, the ruling Naga People's Front.

The stock markets had closed in the red for the fifth consecutive session on Monday.

The White House said, "The President's focus is on our long-term economic fundamentals, which remain exceptionally strong".

The rout in global equities deepened in Asia as inflation worries gripped financial markets, sending USA stock futures sinking further into the red after Wall Street suffered its biggest decline since 2011.

All the 19 sectoral indices on the BSE declined, with the IT pack leading the indices.

On Monday, the BSE Sensex was down by almost 310 points to a three-week low and the Nifty by 94 points at closing bell on heavy selling, mainly in banking, capital goods, and IT counters.

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