Indian markets fell sharply, tracking a selloff in other global markets as as fears lingered over a global economic slowdown.
The Sensex was down over 300 points while Nifty as near 11,350.
Metal and banking stocks came under strong selling pressure while broader markets too saw sharp losses. Yes Bank, SBI and Kotak Mahindra Bank were down over 1% while Hindalco, JSW Steel and Vedanta fell over 2%. In Japan, the benchmark Nikkei 225 index dropped nearly 3% while Shanghai markets fell 1.4%.
Nifty Bank index was down 1% while Nifty Metal index fell 1.5%. Yes Bank, SBI and Kotak Mahindra Bank were down over 1% while Hindalco, JSW Steel and Vedanta fell over 2%.
Indian rupee today weakened against US dollar, rupee was trading at 69.07 a dollar, down 0.17% from its previous close of 68.96.