The Sensex and Nifty benchmark indices plunged on Friday after ending flat in the previous session as policymakers across the globe aggressively paddle on monetary policy tightening.
The Sensex tanked 1,115 points to day’s lowest level of 54,587 and the Nifty50 shed 342 points to slip to 16,341. This was the benchmarks' lowest level in two months.
Record-high inflation levels, dented prospects of corporate profitability and likelihood of contraction in economic growth continue to batter equities, which, according to analysts, are set to remain volatile in the near-term amid global liquidity withdrawal.
"The single important factor roiling global equity markets