Sensex plummets 586 points to 1-year low; Nifty tanks 185 points to close at 7,785

Zee Media Bureau

New Delhi: The benchmark BSE Sensex on Tuesday tanked 586.65 points to one-year low of 25,696.44 while the Nifty fell 185.45 points to close at 7,785,85 due to lower- than-expected GDP data and sell-off in global equities.

In pre-close session, sensex extended its rout to crash by 700 points, while NSE Nifty cracked the 7,800-mark.

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Sentiment was also hit after a gauge of Chinese manufacturing fell to a three-year low.

The GDP growth slowed to 7 per cent in the June quarter, from 7.5 per cent in the previous quarter amid deceleration in farm, services and manufacturing sectors.

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The 30-share index which slumped below the crucial 26,000-mark in early trade, continued to slide and dived by 703.21 points or 2.67 per cent to trade at 25,579.88 during the mid-session.

The gauge had lost 109.29 points in the previous session.

All the sectoral indices led by metal, bank and realty, tumbled up to 4.15 per cent.