Nifty, sensex drops to the lowest level since March

The  domestic market Sensex opened 5.1% lower at 33,876 today, which is recorded as the lowest since 31 October 2018. On the other hand, NFTY opened below 10,000 mark.

Equities in Asian markets fell, with MSCI’s broadest index of Asia-Pacific shares outside Japan losing 4.1 per cent to its lowest level since early 2019, and Japan’s Nikkei dropping 5.3 per cent. Australia’s benchmark dived 7.4 per cent while South Korea’s KOSPI fell 4.6 per cent to a four-and-a-half-year low.

Wall Street futures also took a hit, with the S&P 500 futures diving 4.7 per cent, a day after the S&P 500 benchmark index lost 4.89 per cent.

Oil prices plunged nearly 4 per cent having switched in and out of positive territory before the US announcement.