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India’s benchmark Sensex index slumped nearly 1250.38 points to 33,506.78 points, while Nifty declined 350 points to 10,343 tracking global selloff amid strong US jobs data.
Both Nifty and Sensex fell nearly 3.5%, their biggest fall since August 2015. Overnight, Dow Jones fell over 1,100 points, its biggest fall since six-and-half years after US wage data on Friday pointed to quickening inflation which may lead to higher rates by the US Federal Reserve.
Indian markets are already under pressure after the government presented budget that focused on populist measures ahead of general elections in 2019 and imposed a long-term capital gains tax on equities. #casansaar (LiveMint, NDTV)
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