Sensex continues freefall, plunges by 1200 pts

The Indian stock markets continue to bleed with the Sensex crashing 1,240.45 points in morning trade. The 30-share BSE fell 3.57 percent at 33,516.71 and the 50-share NSE Nifty fell 369.60 points at 10296.90.

In the wake of Wall Street's biggest one-day decline since 2011, the crude oil futures also extended their slump.

Meanwhile, Tata Motors crashed 10 percent post earnings.

Maruti Suzuki, HDFC, Reliance, State Bank of India (SBI), Axis Bank, ITC were all down three to seven percent.

The Indian Rupee too is trading at lowest level since December 2017.

Rupee plunged 29 paise in the early trade. It opened at Rs. 64.35 per dollar as against Rs. 64.06 on Monday.

Earlier in the day, the Dow Jones Industrial Average fell 1,175.21 points to 24,345.75.

The S&P 500 lost 113.19 points or 4.10 percent to 2,648.94 and the Nasdaq dropped 273.42 points to 6,967.53.