Mumbai: Sensex plummets 586.65 points to one-year low of 25,696.44, while Nifty also tanked 185.45 points to close at 7,785,85.
On intensified selling in pre-close session, the benchmark BSE extended its rout to crash by 700 points, while NSE Nifty cracked the 7,800-mark due to lower-than-expected GDP data and sell-off in global equities. Sentiment was also hit after a gauge of Chinese manufacturing fell to a three-year low.
The benchmark BSE Sensex, in the early trade, fell below the 26,000-mark by plunging over 298 points while the NSE Nifty slipped below 7,900 mark in early trade on September 1 on foreign fund outflows and selling by investors, triggered by weak growth data for the June quarter.
The 30-share index fell by 298.81 points, or 1.13 per cent, to 25,984.28 with all the sectoral indices led by banking, metal and capital goods trading in negative terrain with losses of up to 1.70 per cent.
The gauge had lost 109.29 points in the previous session. On similar lines, the NSE Nifty slipped below the 7,900-mark by losing 84.65 points, or 1.06 per cent, at 7,886.65. Sentiment after India's GDP growth slowed to 7 per cent in the April-June quarter from 7.5 per cent in the previous quarter, brokers said.
Besides, a weak trend at other Asian markets following another batch of data showing weakness in China's economy, rising global crude oil prices, accelerated selling activity, they said. Among other Asian markets, Hong Kong's Hang Seng shed 0.50 per cent, Shanghai Composite fell 1.87 per cent, while Japan's Nikkei shed 2.38 per cent in early trade on September 1. The US Dow Jones Industrial Average ended 0.69 per cent down in yesterday's trade.
