Economic growth blues make markets see red; Sensex, Nifty fall over 2%

The Sensex tumbled 770 points to end at 36,563, while the Nifty closed at 10,798, down 2 per cent, or 225.35 points

Domestic equities and the currency tumbled on Tuesday as investors, disappointed by a slump in economic growth, pulled out from the market. The benchmark Sensex and Nifty indices plunged over 2 per cent each — the most since October 2018 — while the rupee ended at its lowest closing level since November 2018 against the US dollar. Foreign portfolio investors (FPIs) dumped shares worth more than Rs 2,000 crore amid an uncertain growth outlook in India, which until recently was the fastest-growing major economy.

The gross domestic product (GDP) growth figure for the quarter ended June, released after market hours on