Sensex crashes by 700 pts in pre-close session

On intensified selling in pre-close session, the benchmark BSE extended its rout to crash by 700 points, while NSE Nifty cracked the 7,800-mark due to lower- than-expected GDP data and sell-off in global equities.
Sentiment was also hit after a gauge of Chinese manufacturing fell to a three-year low.
The GDP growth slowed to 7 per cent in the June quarter, from 7.5 per cent in the previous quarter amid deceleration in farm, services and manufacturing sectors.
The 30-share index which slumped below the crucial 26,000-mark in early trade, continued to slide and dived by 703.21 points or 2.67 per cent to trade at 25,579.88 during the mid-session.

The gauge had lost 109.29 points in the previous session.
All the sectoral indices led by metal, bank and realty, tumbled up to 4.15 per cent.

The NSE Nifty too came under selling pressure and cracked another crucial 7,800-mark by dropping 218.85 points or 2.74 cent to 7,752.45.
All the 30-Sensex constituents led by Coal India, Axis Bank, Hindalco, M&M, BHEL and Tata Steel were trading in th negative zone with losses up to 5.25 per cent.
Among other Asian markets, Shanghai Composite index was down 1.23 per cent, Japan's Nikkei tumbled 3.84 per cent and Hong Kong's Hang Seng dived 2.24 per cent.

European markets were also in the red in their opening deals.