Markets join global selloff; Sensex sinks below 80k

Equity benchmark Sensex on Thursday plunged about 965 points to crash below the 80,000 level due to heavy selling in global equities after the US Federal Reserve signalled fewer rate cuts next year. Photograph: Arko Datta/Reuters Besides, deep losses in consumer durables, banking and IT stocks amid foreign fund outflows added to the gloom, analysts said. Falling for the fourth day running, the 30-share BSE benchmark Sensex tanked 964.15 points or 1.20 per cent to settle at 79,218.05.   ...