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Sensex, Nifty tumble as Kashmir tension spooks investors' interest

Scrapping of Kashmir autonomy, China yuan devaluation trigger fresh risk-off bets

Sensex, Nifty tumble as Kashmir tension spooks investors' interest
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Sundar Sethuraman Mumbai
Stocks tumbled on Monday with the government’s move to scrap Kashmir’s autonomy and China’s yuan devaluation triggering further panic among investors. The benchmark Sensex plunged as much as 700 points intraday before recouping some of the losses to end at 36,700, down 418 points, or 1.13 per cent. The Nifty50 index declined 135 points, or 1.23 per cent, to end at 10,863 — the lowest close since February 28.
 
Most global markets fell, while the US futures pointed to a sharply lower opening on the Wall Street amid rising tensions between the US and China. The Chinese yuan fell