Sensex Plunges Over 500 Points As GDP Growth Hits 6 Year Low: 10 Facts

Sensex Plunges Over 500 Points As GDP Growth Hits 6 Year Low: 10 Facts

Punjab National Bank shares slumped 8% after merger announcement.

The S&P BSE Sensex and NSE Nifty 50 indexes slumped on Tuesday after the government data on Friday showed that the country’s economic growth fell to over six-year low of 5 per cent against an estimate of 5.7 per cent compiled by a Reuters poll. Weakening economic growth along with escalating US-China trade frictions are hurting the market sentiment, analysts said. The Sensex fell as much as 516 points and the NSE Nifty 50 index dropped below important psychological level of 10,900. As of 12:20 pm, the Sensex plunged 464 points or 1.2 per cent to 36,869 and the Nifty 50 index dropped 1.3 per cent or 138 points to 10,886.