Markets join global selloff as US Fed eyes fewer cuts

Sensex plunged 965 points to crash below 80,000-mark, has lost 3.54% in four days

- Press Trust of India

MUMBAI: Equity benchmark Sensex on Thursday plunged about 965 points to crash below the 80,000 level due to heavy selling in global equities after the US Federal Reserve signaled fewer rate cuts next year.

Besides, deep losses in consumer durables, banking and IT stocks amid foreign fund outflows added to the gloom, analysts said.

Falling for the fourth day running, the 30-share BSE benchmark Sensex tanked 964.15 points or 1.20% to settle at 79,218.05. During the day, the blue-chip index cracked 1,162.12 points or 1.44% to 79,020.08.

As many as 2,315 stocks declined while 1,680 advanced and 100 remained unchanged on the BSE.

The NSE Nifty tumbled 247.15 points or 1.02% to sink below the 24,000 mark at 23,951.70.