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Sensex Drops 759 Points; Nifty Ends At 10,235

Indian shares fell sharply once again on Thursday and the rupee hit a record low of 74.48 per dollar, as global markets plunged on concerns over slowing global growth and rising interest rates.

The benchmark 30-share BSE Sensex ended down 759.74 points or 2.19 percent at 34,001.15 after falling over 1,000 points earlier in the day. The broader Nifty index ended the session down 225.45 points or 2.16 percent at 10,234.65.

Hindalco, Tata Steel, SBI, Bajaj Finserv and Indiabulls Housing Finance slumped 5-9 percent in the Nifty pack, while oil companies BPCL and IOC climbed 5-6 percent after a sharp selloff in oil prices overnight. HPCL shares soared more than 16 percent.

Crude oil futures for November delivery fell 1.68 percent to $71.94 a barrel in European trade, adding to a 2.4 percent slide overnight as escalating tensions between the U.S. and China raised concerns that global oil demand will decline in the near term.

Brent crude was down 1.75 percent at $81.66 a barrel after closing 2.2 percent lower on Wednesday amid easing supply worries as Hurricane Michael likely spared oil assets from significant damage.

TCS fell 2.4 percent ahead of its September quarter results due later in the day.

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