Share markets in India fell sharply in the morning session. The BSE Sensex hit its 10% lower circuit and trading was halted for 45 minutes.
Currently, the benchmark indices have resumed trading.
The BSE Sensex is hovering around 29,000 levels after falling as much as 3,000 points earlier in the session.
The Nifty 50 index is trading 842 points lower at 7,900 levels.
Although the markets saw an across-the-board selling, banking and automobile stocks were the worst-hit. The Nifty Bank index was down 12.7%. Axis Bank and ICICI Bank both plunged over 10% each while Maruti Suzuki was down 9.7%.
In the broader market, the BSE MidCap index was trading with 6.9% cut and the BSE SmallCap index was down 6.4%.
Stay tuned for more updates in the following commentary.
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