Sensex slumps 450 points

Indian stock Markets continue to reel under pressure with Nifty trading below the 7,900 mark owing to weakness across the bourses on lower-than-expected GDP numbers along with the India’s manufacturing activity which grew at a slower pace in August. Losses in the global equities on gloomy manufacturing data from China and prospects of an interest rate hike by the Fed further unnerved the investors. At 1: 30 PM, the 30-share Sensex was down 437 points at 25,846 and the 50-share Nifty was down 139 points at 7,833. In the broader market, the BSE Mid-cap was down 1.3% and Small-cap index eased 1.2%. Market breadth continued to remain weak with 1,869 losers and 552 gainers on the BSE, according to a news agency.

-Shuvo-