Nifty falls below 8,000 on global rout fears

MUMBAI (Reuters) - The Nifty slumped more than 1 percent to below the psychologically key level of 8,000 points for the first time in 1-1/2 months on worries that financial contagion from Russia and slumping oil prices would lead foreign investors to shed risk assets.

Overseas investors sold shares worth 12.47 billion rupees ($196.56 mln) on Tuesday, their biggest daily net sales since Oct. 17, according to data from exchange NSE.

ICICI Bank fell 2.8 percent, while Larsen and Toubro lost 1.9 percent.

The Nifty fell as much as 1.28 percent, while the Sensex lost 1.11 percent, marking their lowest intraday level since Oct. 21.

 

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)