India's Sensex slumped nearly 3 percent on Thursday, mirroring sharp losses across global markets, triggered by an overnight sell-off on Wall Street as technology stocks tumbled.

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The BSE Sensex tumbled nearly 1000 points, while the NSE Nifty50 shed more than 300 points in early trade, slipping below 10,200 level. At 9.20 am, the Sensex traded at 33,775, plunging 986 points, or 3 percent, while the Nifty tanked 305 points, or 3 percent, to trade at 10,155. The Nifty is trading lower than its 100-day and 200-day moving averages.

Broader market indices were also lower by more than 500 points.

All 43 sectors declined, with BSE Realty declining 4.04 percent. The Nifty Bank shed more than 700 points in initial trade.

Only 3 stocks gained in opening trade on the Nifty from the oil and gas space as crude oil prices declined. ONGC, HPCL and Gail shares rose by up to 3.16 percent.

Almost all the stocks on the NSE index traded with losses with Indiabulls Housing Finance dipping more than 8 percent in opening trade. Bajaj Finance also tanked more than 7.5 percent. Axis Bank,Bajaj Finserve, Eicher Motors all traded sharply lower by up to 5.26 percent.

The weak sentiment drove the Indian rupee to a fresh record low against the US dollar, which, in turn, affected sentiment in the equity market as well. The rupee opened at 74.45 against the US dollar, after closing at 74.20 against the greenback on Wednesday.

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(With inputs from agencies)

First Published:Oct 11, 2018 9:24 AM IST