Market Crash: Sensex Slumps 700 Points

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Mumbai: The BSE Sensex on Tuesday registered a great crash with a plunge of 703 points to 25,579.88 and Nifty dived over 160 points due to a weak GDP. Barring IT and Teck sectors, rest all other segments led by banks, capital goods, consumer durables, metal, auto, realty, oil & gas and power witnessed sustained selling pressure.

Country’s key macro-data with slower GDP growth of April-June quarter, subdued Asian cues amid weakness in China’s economy, loomed over the trading sentiments.

Major losers were – Axis Bank 2.31 per cent, followed by HDFC 2.27 per cent, Bharti Airtel 2.09 per cent, Hindalco 1.81 per cent, Lupin 1.75 per cent, among others.

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Meanwhile, foreign investors sold shares worth Rs 551.19 crore on Friday, as per provisional data.

In overseas markets, Asian stocks traded lower after two surveys showed China’s manufacturing sector in the grip of its worst slump in several years, raising fresh fears about the health of its economy.

Key benchmark indices in China, Singapore, Taiwan, Hong Kong, Japan, Indonesia and South Korea fell 0.41 per cent to 1.82 per cent