Sensex slumps 709 points on global sell-off

The S&P BSE Sensex tumbled 709 points or over 2 per cent on Thursday, led by losses in Reliance Industries, HDFC Bank and ICICI Bank, as a sell-off in global equities hit investor sentiment.

After touching a low of 33,480.42, the 30-share index settled 708.68 points, or 2.07 per cent, lower at 33,538.37. Similarly, the broader NSE Nifty tanked 214.15 points, or 2.12 per cent, to close at 9,902. 

The investor sentiment took a hit post US Federal Reserve's policy meeting outcome. The US central bank projected a 6.5 per cent decline in the US economy's gross domestic product (GDP) this year and a 9.3 per cent unemployment rate at the year's end.

Market sentiment also took a hit as new coronavirus infections continued to rise in India with cases now near 2.9 lakh.

(With inputs from agencies)