ProMASS News Bureau: Jan 4, 2016:
In its biggest fall in more than three months, the benchmark BSE Sensex on Monday plunged by 537.55 points to crack below the 26,000-mark as worries over China’s economic slowdown and geopolitical tensions in the Middle East combined to spook investors. In addition, domestic manufacturing sector output shrinking to a 28-month low in December and fresh weakness in the rupee, further accelerated selling activity. Moreover, global crude prices surged by 1.64 per cent to USD 37.89 per barrel while in the local market, rupee weakened by 45 Paise to 66.59 (intra-day) against the dollar.
In other Asian markets, The Shanghai index plunged by more than 7 per cent and trading was halted for the rest of the day. Japan’s Nikkei tumbled 3.06 per cent and Hong Kong’s Hang Seng lost 2.68 per cent. European markets were also down in their early trade.
