Markets reverse all gains in closing hour; Sensex ends 811 points lower

Nifty falls below 9,000 after dropping 10% in two days

Little respite seems to be in sight for the markets as overseas investors continue to aggressively sell amid fears of a global recession. The benchmark Nifty index on Tuesday ended below the 9,000-mark for the first time in nearly three years, while the Sensex managed to hold on to 30,000. In the last two sessions, the Nifty has dropped nearly 1,000 points, or 10 per cent, while the Sensex has lost 3,500 points, weighed down by an Rs 8,000-crore pullout by foreign portfolio investors (FPIs) in two days.

On Tuesday, it appeared that the markets would get a breather as