Sensex down by 1200 points over wall street sell off

Benchmarks BSE Sensex and NSE Nifty 50 fell for a sixth straight session on Tuesday in line with broader Asia following a U.S. market rout. Dow Jones Industrial Average, the benchmark US index, fell off a cliff on Monday, posting its biggest intraday point-decline ever in the history of American capital markets.

The BSE Sensex dropped 1200 points and the Nifty fell 380 points. BSE oil & gas index slips 2.3 percent, TECk index loses 2.7 percent, IPO and PSU indexes drop 3 percent, power index falls 3,4 percent in early trade. Since the day Budget was announced on February 1, BSE's market capitalisation has dipped by Rs 5.6 lakh crore.

Earlier on Monday, BSE Sensex closed lower by 309.59 points, or 0.88%, to 34,757.16, while the Nifty 50 fell 68.05 points, or 0.63%, to 10,692.55. Globally, Asian shares fell sharply after Wall Street suffered its biggest decline since 2011 as investors' faith in factors underpinning a bull run in markets began to crumble.