Sensex sinks 355 points tracking global sell-off

Mumbai: Benchmark Sensex spiralled lower for the second straight session on Monday and cracked below the key 38,000-mark, with banking and realty counters taking the biggest hit amid a global sell-off triggered by renewed fears of a recession. The BSE Sensex tumbled 355.70 points to end at 37,808.91 while the wider NSE Nifty plunged 102.65 points to 11,354.25. The Sensex has now lost over 575 points in two sessions. Investor sentiment dampened after weaker-than-expected economic data from the US and Europe last week stoked fears of a global slowdown. The trade worries between the US and China too added to the worries, brokers said. Besides, investors preferred to keep their portfolios at low ebb ahead of fiscal 2018-19 coming to an end, they added. Worries over the health of the global economy heightened last week after cautious remarks by the US Federal Reserve sent 10- year treasury yields to the lowest since early 2018. PTI