The BSE Sensex nosedived by over 900 points in one of its worst falls to trade at 26,937.06 and the NSE Nifty dipped below the 8,200-mark by falling 218 points at pre-close today amid overnight losses in US markets, global slump in oil prices and Greek political crisis.
After falling over 588 points in opening trade due to heavy selling by funds and investors, the Sensex continued to slide as selling pressure gathered momentum and tumbled by 905.26 points, or 3.25 percent, to 26,937.06 at 1500 hours.
The 30-share index had lost over 45 points in the previous session.
Major losers that pulled down the Sensex and Nifty were ONGC, Tata Steel, RIL, HDFC Ltd, Tata Motors, Sesa Sterlite, ICICI Bank, SBI, BHEL, Tata Power, TCS, Axis Bank, L&T, Hero Moto, GAIL, Infosys, Dr Reddy, Sun Pharma and Wipro.
Similarly, the National Stock Exchange index Nifty dipped below the 8,200-mark by plunging 267.05 points, or 3.18 per cent, to 8,111.35.
Brokers said sentiments were dampened due to a global sell-off with fears sparked by the slump in oil prices and the Greek political crisis.
The euro sat near nine-year low as the uncertainty in Greece raised the prospect that it could leave the Eurozone, they said.
Meanwhile, foreign portfolio investors bought shares worth a net Rs 472 crore yesterday, as per provisional data.
Among other Asian markets, Hong Kong’s Hang Seng was down by 0.9 per cent, while Japan’s Nikkei plunged 3.02 percent.
European markets were also down in their opening trade.