Sensex on Thursday plummeted further by 866.31 points after it had opened at a low of 614.47 points, while Nifty was trading 279.10 points after it breached the 10,600 mark.
However, Sunil Shah, a market expert, believes that government will have to take some radical measures so that the crisis in the fall of market and rupee does not deepen further.
"Government will have to take some radical measures so that these crises do not deepen further not only in the fall of the market but rupee can be arrested," Shah told ANI.
"Foreign Portfolio Investors are taking out money from the emerging market. India is also an emerging market and it cannot escape what is happening in other emerging markets. You see every currency of emerging market is beaten up against the dollar. So rupee is one of them. This can be arrested if there is a sharp correction in crude oil prices, if the government takes measure to increase our exports and we take some measures whereby we attract a lot of Foreign Direct Investment that will bring capital flow to the country in a current account deficit and fiscal deficit will improve," he added.
The markets opened in red on Thursday with the Sensex witnessing a sharp fall of 614.47 points to open at 35,361.16.
The Indian rupee opened at a fresh record low of 73.76 per US dollar, maintaining the downward trend as Wednesday also witnessed a fall of 43 paise in comparison to the opening on Monday.
The rupee also ended at a record closing low on Wednesday, down by 43 paise versus Monday's closing.