Mumbai : Stocks tumbled like nine pins on Thursday, with the benchmark Sensex plunging over 439 points to close at a three-month low of 27,643.11 after a slew of global factors such as weak Chinese export data and Fed rate hike talks unnerved investors.
Besides, a caution ahead of retail inflation numbers – to be released after market hours today – and key quarterly results also influenced trading sentiment in domestic markets. Shares of finance, telecom, banking, realty, utilities and industrials fell sharply due to heavy profit-booking. The Sensex opened lower and stayed in the negative zone to hit a low of 27,563.84 points before settling 439.23 points, or 1.56 per cent down at 27,643.11, its lowest closing since July 11. The gauge had gained 21.20 points in the previous session on Monday. Stock Exchanges remained closed on Tuesday and Wednesday for “Dussehra” and “Moharum”, respectively.
On similar lines, the National Stock Exchange index Nifty broke below the 8,600-mark to touch the session’s low of 8,541.35 and finally settled 135.45 points, or 1.56 per cent, down at 8,573.35.