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Sensex resumed downward spiral by nosediving 418 points

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Market benchmark Sensex resumed its downward spiral today by nosediving 418 points to close at over 20-month low of 24,062.04, tracking massive sell-off in global indexes on growth worries, while oil again dipped below the USD 28-level.

With this, the index has fallen to the weakest level since since May 16, 2014, the day the new government won a landslide mandate in general elections.

The rupee, meanwhile, breached the 68-mark during intraday against the dollar for the first time since September 4, 2013.

The 30-share Sensex after opening lower at 24,325.77, continued to slide and cracked the 24,000-mark to hit a low of 23,839.76. However, on fag-end buying, the index managed to close above 24,000-level at 24,062.04, still down 417.80 points or 1.71 per cent.

The gauge had gained 291.47 points in the previous session backed up by value-buying in select blue-chips.

The NSE Nifty after cracking the crucial 7,300-mark, settled 125.80 points or 1.69 per cent down at 7,309.30.

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