Govt action fails to help market, rupee; Sensex tumbles over 500 points

The government on Friday announced measures to improve capital inflows and contain the widening current account deficit

The benchmark Sensex tumbled more than 500 points on Monday after the measures announced by the government over the weekend failed to stem losses in the currency and bond markets. The crash has wiped out over Rs 1 trillion of investor wealth.

Weakness in the Asian markets, amid the escalation of trade tensions between the US and China, also weighed on investor sentiment. 

The Sensex closed at 37,586, down 1.33 per cent, while the Nifty50 index shed 137.4 points, or 1.2 per cent, to close at 11,378. This was the third 1 per cent-plus fall for both the