Mumbai: New Delhi: BSE Sensex plummeted 586.65 points on Tuesday amid weak GDP data and a slump in equity markets the world over, as a contraction in August PMI stoked fears of a sharper slowdown in the Chinese economy.
The 30-share index settled the day 2.23% lower at 25,696.44. Sensex settled at its lowest level in more than a year.
The 50-pack Nifty shed 185.45 points, or 2.33%, to close at 7,785.85. Selling was seen across the board, with all the 12 BSE sectoral indices ending in the red. Twenty eight of the 30 Sensex stocks ended the day in red. Hindalco and Axis Bank were the top losers, down 5% each.
Nifty settled at its lowest level in more than 10 months.
Earlier, on intensified selling in pre-close session, the benchmark BSE extended its rout to crash by 700 points, while NSE Nifty cracked the 7,800-mark due to lower- than-expected GDP data and sell-off in global equities.
Sentiment was also hit after a gauge of Chinese manufacturing fell to a three-year low.
The GDP growth slowed to 7 % in the June quarter, from 7.5 % in the previous quarter amid deceleration in farm, services and manufacturing sectors.
The 30-share index which slumped below the crucial 26,000-mark in early trade, continued to slide and dived by 703.21 points or 2.67 % to trade at 25,579.88 during the mid-session.
The gauge had lost 109.29 points in the previous session.
All the sectoral indices led by metal, bank and realty, tumbled up to 4.15 %.
The NSE Nifty too came under selling pressure and cracked another crucial 7,800-mark by dropping 218.85 points or 2.74 cent to 7,752.45.
All the 30-Sensex constituents led by Coal India, Axis Bank, Hindalco, M&M, BHEL and Tata Steel were trading in th negative zone with losses up to 5.25 %.
Among other Asian markets, Shanghai Composite index was down 1.23 %, Japan’s Nikkei tumbled 3.84 % and Hong Kong’s Hang Seng dived 2.24 %.
European markets were also in the red in their opening deals.
(With inputs from PTI)