Sensex tanks over 1058 points in 3 sessions; experts decode market movement

October has begun on an ominous note for the markets with the S&P BSE Sensex sliding around 1058 points, or 2.9 per cent, in just three trading sessions. The fall comes amid a sliding rupee that hit 73.77 to a dollar, rising crude oil prices (Brent hit $85 per barrel) and a possible hike in interest rates by the Reserve Bank of India (RBI) in its upcoming policy review on Friday. That apart, the ongoing developments at IL&FS, YES Bank and housing finance companies dented sentiment in the banking and finance sectors. 

So, how low can the indices go from