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Markets in shock, rupee at all-time low

October 23, 2008

The Indian stock markets plunged on Thursday following sustained capital outflows, shaky global markets, poor company results, and the International Monetary Fund's warning that economic growth in advanced nations will be close to zero.

The BSE Sensex, on Thursday, plunged by 398.20 points, or 3.92%, to fall to 9,771.70 on heavy selling in IT, metal, realty and banking stocks.

The NSE Nifty closed down 122 points, or 4.15%, at 2,943.15. This is its lowest since July 2006.

Meanwhile, the Indian rupee sank to its lowest level. Read on. . .

Image: Commuters walk past the Bombay Stock Exchange in Mumbai. | Photograph: Sebastian D'Souza/AFP/Getty Images

Also read: Meltdown: Thousands of jobs to go globally!

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