Sensex Posts Biggest Fall in 7 Years, Down over 1,150 Points

The BSE Sensex fell more than 1,150 points (4%) on Monday. It is the 4th biggest crash in history in terms of absolute value. INR has weakened from 64/USD to nearly 66.67, a fall of over 4% since 11 Aug’15, when China announced devaluation of its currency, Yuan. The devaluation in Chinese Yuan has affected most emerging market currencies and stoked fears of a currency war. South African Rand struggled at 14-year low, the Turkish Lira languished near a record low and the Malaysian Ringgit hit a 17-year low.

The sell-off in Chinese market has weighed on risk assets across the globe. Asian stocks dived to a 3-year low and European market went down nearly 3% in early trade. Copper, seen as a barometer of global demand, tumbled to a 6-1/2-year low as the anxiety over China sapped investors’ confidence.

10 Biggest Ever Intra-day Falls for Sensex 

Source: PTI