The losses in India tracked a global rout in stocks from New York to Tokyo, even as fears of accelerating inflation sent bond yields surging. Earlier in the day, the Sensex plunged 1,274.35 points to 33,482.81, while Nifty declined 390.25 points to 10,276.30. Both indices plunged nearly 3.7% in intraday trading, their biggest decline since August 2015. The Sensex and the Nifty are down 5.75% and 5.68%, respectively, from their 29 January peaks of 36,283.25 and 11,130.40. I would think the global markets could stabilize though,” said Andrew Holland, chief executive of Avendus Capital Alternate Strategies.

Source: Mint February 06, 2018 18:33 UTC