Sensex Dives Over 426 Points Ahead Of RBI Meet
Mumbai: The Sensex plunged over 426 points, the biggest drop in about 5 months, on massive selling across stocks on rising uncertainty ahead of the RBI policy meet and a global sell-off linked to U.S. tapering fears.
Growing concerns about slowing growth in China and a mixed bag of corporate earnings also hit investor sentiment, pulling down rupee below 63-level against dollar.
A slump in emerging-market currencies, spurred concerns a sell-off in global equity markets may continue, brokers said.
Overall, 643 shares gained while 1,952 stocks declined on the BSE —— meaning seven out of every ten stocks ended lower.
All 12 BSE sectoral indices ended in the red.
Rate-sensitive realty, banking, metal and auto were among the hardest hit.
After dropping 240 points in the previous session, the BSE benchmark Sensex plunged by 426.11 points, or 2.02 per cent to end at 20,707.45, its biggest single-day fall since September 3, 2013 when it sank by over 651 points.
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