After a few days of relative calm, Indian equity benchmarks closed with enormous cuts, with the NSE Nifty closing at below 5000 for the first-time since June 2010. It was a complete free-fall on Dalal Street on Wednesday, spooked by fears of stammering recovery in the European and US economies after debt crisis.
The 50-share NSE Nifty touched new 52-week intra-day low of 4,932.15, before closing down 112 points at 4,944. The 30-share BSE Sensex fell 371 points, to end at 16,469.79.
On the global front, European markets like France's CAC, Germany's DAX, Britain's FTSE were down 2-3.5%. The Dow Jones futures tumbled 173 points. Major Asian markets like Hang Seng, Shanghai and Nikkei closed down 1-1.6%.
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