Markets at close: Terrible Thursday, biggest single-day fall in 2 months

Markets latest news: Sensex and Nifty saw sharp cuts in Thursday's trade posting the the biggest single-day fall in 2 months as global cues went from bad to worse.

Sensex sunk over 1,400, while the 50 stock Nifty dopped over 400 points crashing all the way to 15,800. All sectoral indices closed in the red with the tech index posting the biggest fall in over 2 years. Top losers in the Nifty pack were the frontline tech companies Wipro, HCL, Infosys, Tech Mah, TCS.

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With volatility index now jumped of over 10% reflecting the risk-off attitude of investors seen in the US markets that saw the biggest fall in over 2 years.

The phrase "Sell in May and go away" is playing out to be true for the Indian markets that have seen relentless selling from the FIIs from October onwards.

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