Sensex tumbles 570 points, Nifty down 0.75% amid global markets crash

Markets opening: On Wednesday, the domestic stock markets opened in deep red amid a major global market sell-off started from the United States markets where major technology stocks dragged the bourses to month lows. The bearish sentiment swept across the Asian markets as Japan's Nikkei and South Korea's KOSPI lost substantially. 

Snapping its longest winning streak since inception, the National Stock Exchange’s Nifty 50 was trading 175.40 or 0.7 per cent lower at 25,104.45 while the BSE’s 30-share Sensex tumbled more than 570 points or 0.7 per cent at 81,999.44. 

On the market opening, all 13 major sectoral indices were trading in red with Information and Technology (IT) and Nifty Metal lost over a per cent each to become the top sectoral losers. As the manufacturing data from the United States remained tepid, the worries of potential slowdown in the largest global economy may influence Federal Reserve’s decision on rate cuts. 

A slew of US economic data is due this week, including readings on job openings, jobless claims and the closely-watched nonfarm payrolls report on Friday.

Out of a total 30 stocks in BSE Sensex, only four namely Asian Paints, Bajaj Financial Services, Hindustan Unilever, and Bajaj Finance were trading marginally up. On the other hand, Infosys, JSW Steel, and Mahindra & Mahindra fell 1.74 per cent, 1.43 per cent, and 1.31 per cent respectively. 

State Bank of India, Tech Mahindra, Axis Bank, and Larsen & Toubro were other major stocks that were trading in red on September 4.