The Indian equity benchmarks plunged sharply on Thursday as global markets slipped. Asian shares fell to their lowest in more than 14 months, short-term U.S. yields rose to 23-month highs and the dollar strengthened after the Federal Reserve’s chairman signalled plans to steadily tighten policy. Also, investors turned cautious on rising concerns over political tensions between Russia and Ukraine.
The 30-share BSE Sensex tanked 1,011 points or 1.75 per cent to 56,847; while the broader NSE Nifty nosedived 180 points or 1.62 per cent to break below the psychological 17,000-mark, at 16,998.
Mid- and small-cap shares were negative as Nifty Midcap 100 index was down 1.18 per cent and small-cap shares were trading 0.19 per cent lower.