New Delhi: Markets saw sharp fall in opening trade with the Sensex nosediving 1,000 points in opening trade in tandem with global cues and depreciation in the rupee on Thursday.
Asian share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe, a Reuters report said.
Rupee hit an all-time low of 74.45 against US dollar on Thursday.
At 9.25 am the BSE Sensex was trading 910.93 points or 2.62 percent down at 33,849.96. Similarly, the NSE Nifty fell 278.45 points or 2.66 percent to 10,181.65.
In the Sensex pack all stocks barring ONGC were trading deep in the red. Axis Bank fell the most with 4.98 percent drop. The gauge had jumped 461.42 points to close at 34,760.89 yesterday.
Japan`s Nikkei fell 3.4 percent, the steepest daily drop since March, while the broader TOPIX lost around $195 billion in market value. Shanghai shares touched their lowest since late 2014, while China blue chips slid 3 percent.
On Wall Street, the S&P500`s sharpest one-day fall since February wiped out around $850 billion of wealth as technology shares tumbled on fears of slowing demand. The S&P 500 ended Wednesday with a loss of 3.29 percent and the Nasdaq Composite 4.08 percent, while the Dow shed 2.2 percent.
With Agency Inputs