Biggest single-day slump for markets in 3 months; Sensex falls 1,093 pts

The dollar in the last three sessions rose 0.7 per cent against the rupee

India’s benchmark indices posted their biggest single-day fall in three months as the sell-off in global markets continued amid a surge in the US dollar, which triggered bets of an outsized rate hike by the US Federal Reserve. A bunch of weak economic data, both domestic and global, also clouded the economic outlook.

The Sensex slumped 1,093 points, or 1.8 per cent, to finish at 58,841, while the Nifty ended at 17,531, with a decline of 346 points, or 1.9 per cent — the steepest fall since June 16. Both indices fell about 1.7 per cent during the week, the most