Crude oil slump triggers a sell-off in domestic stocks, currency

Sensex falls 1,011 points, Nifty closes below 9k

The plunge in oil prices triggered a sell-off in domestic stocks and currency as it triggered fresh worries about global growth. The benchmark Sensex fell 1,011 points, or 3.2 per cent, to end at 30,637, while the Nifty50 index closed at 8,981, down 280 points, or 3 per cent.

The rupee declined 29 paise to close near its record low at 76.83 against the US dollar. Brent Crude prices, too, dropped nearly 27 per cent to below $19 per barrel after some oil contracts traded in the US slipped into negative territory.

While India tends to be a beneficiary of