US fiscal stress sheds benchmark indices

India emerging as 'key connector' amid global cues

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Benchmark Sensex declined by nearly 645 points while Nifty retreated to 24,600 level due to selling in IT, oil and FMCG shares amid a global equity rout triggered by surging bond yields and US debt concerns.

The 30-share BSE Sensex tanked 644.64 points or 0.79 per cent to settle at 80,951.99 with 27 of its constituents ending lower. The index opened lower and tanked further 1,106.71 points or 1.35 per cent to hit a low of 80,489.92 during the day due to across-the-board selling.