Global equity markets went into a freefall on Wednesday, as murmurs of an impending global recession and likely wave of debt defaults got louder.
Sensex and Nifty shed 417.80 points and 125.80 points to end at the day at 20-month lows even as they pared intra-day losses slightly. Further hurting sentiment was the slide in the rupee, which fell to a 28-month low of 68.05 to the dollar intraday.
The Sensex breached the psychological 24,000 mark, falling to a low of 23,839.76, before ending at 24,062.04. The Nifty went as low as 7,241.50 before closing above the psychological 7300 mark at 7,309.30.
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