Mumbai: Indian equity benchmarks plunged for the third consecutive session. Falling more than 800 points in the three days, the Sensex ended below the 16,000 level - at more than one-month low.
There were several dampeners including inconclusive meet of European Union officials on Monday and Moody's downgrade of SBI which punctured investors' sentiment.
The 30-share BSE Sensex fell 286.59 points or 1.77 per cent, to close at 15,864.86 led by fall in 23 stocks. The 50-share NSE Nifty dropped 77.35 points or 1.60 per cent, to end at 4,772.15.
European markets like France's CAC, Germany's DAX and Britain's FTSE tumbled 2-3 per cent on rising fears of Greece default post no solution in the yesterday's meet, which added fuel to the fire after SBI news.
Six hours long meeting of European Union finance ministers at Luxemburg failed to produce concrete steps towards solving debt crisis. Ministers stated that Greece could wait until mid-November - until it receives next installment of aid.
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