Sensex plunges 1000 points, Nifty opens below 11,400

The Indian stock market indices were hammered today as opened in red as Sensex crashes 1,000 points on the global selloff.

At 9:30 am, the Sensex was trading at 38,608.78, lower by 1,136.88 points or 2.85% from the previous close of 39,746 pointswhile the Nifty 50 was down by 335 points to 11,298.

Asian markets were hammered yet again on Friday, tracking a collapse in New York and Europe. Dow Jones Industrial Average was down nearly 4.4%, its worst session in more than two years.

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Meanwhile, Indian Rupee tumbled to 71.93 vs 71.55 previous close, against the US dollar. The fall was in line with Asian peers.

In the previous session, the Sensex settled lower by 143.30 points or 0.36 per cent to 39,745.66.Similarly, the NSE Nifty50 settled at 11,633.30, lower by 45.20 points or 0.39 per cent.

According to analysts, intense spread of coronavirus is pushing investors away. There is sharp foreign fund outflow led by strong dollar index, as investors reduce their exposure to emerging markets amid global uncertainty.

(With inputs from agencies)