Sensex crashes over 1,000 points to slip below 40,000-mark on massive selloff; investors lose Rs 3.25 lakh cr

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BSE index plunged 1,066.33 points to end at 39,728.41 while the broader NSE Nifty crashed 290.70 points to close at 11,680.35

Equity benchmark indices snapped its 10-session winning spree on Thursday amid a massive selloff in the global markets.

The 30-share BSE index plunged 1,066.33 points or 2.61 percent to end at 39,728.41. The broader NSE Nifty crashed 290.70 points or 2.43 percent to close at 11,680.35.

The Sensex had regained the 40,000-mark a few days ago after a gap of over seven months in the wake of COVID-19 breakout.

Global equities turned red as hopes fade of a pre-election stimulus deal in the US. Several countries in the European Union announced a second round of lockdowns in order to control the rising COVID-19 cases, scuttling the hopes for a revival of the economy during the pandemic time.

In India, the market participants were also eager to book profits after the recent rally amid already stretched valuations, reported PTI citing traders.

Barring Asian Paints, which inched up 0.32 percent, all Sensex constituents closed in the red.

Bajaj Finance was the top loser, tumbling 4.68 percent, followed by Tech Mahindra, IndusInd Bank, ICICI Bank, SBI, Reliance Industries, Bharti Airtel and HCL Tech.

Investors lost Rs 3.25 lakh crore during the session as the total market capitalisation of BSE-listed companies fell to Rs 157.31 lakh crore.

In the forex market, the rupee pared its initial gains and settled 5 paise lower at 73.36 against the US dollar.

The international oil benchmark Brent crude was trading 2.17 percent lower at $42.38 per barrel on Thursday.

With inputs from agency

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