Sensex Sinks 1,200 Points, Nifty At 16,965 Amid Weak Global Cues

The BSE Midcap and Smallcap indices were now down 2 and 1 per cent, respectively

Asian shares fell to their lowest in more than 14 months. Image: Getty

New Delhi:  The Indian equity benchmarks on Thursday plunged sharply due to weak global cues.

At 1.00 pm, the 30-share BSE Sensex tanked over 1,210 points (2.09 per cent) in intra-day trade, tracking losses in index-majors Titan, Wipro, and HDFC twins amid a weak trend in the Asian markets.

Meanwhile, the Nifty dipped 312 points to 16,965.

The BSE Midcap and Smallcap indices were now down 2 and 1 per cent, respectively.

Asian shares fell to their lowest in more than 14 months, short-term US yields rose to 23-month highs and the dollar strengthened after the Federal Reserve's chairman signalled plans to steadily tighten policy.

The US Federal Reserve's indication to raise interest rates soon and persistent foreign fund outflows weighed on market sentiment, traders said.

This is a developing story...