Sensex plunges 1.3% on export slump

India’s key benchmark indices tumbled around 1.3% on Tuesday, thanks to weak sentiment after merchandise exports hit a 25-month low in November, and a renewed selling spree from foreign portfolio investors (FPIs) ahead of the U.S. Federal Reserve’s monetary policy review on Wednesday.

The S&P BSE Sensex fell 1,064 points to 80,684 points led by BhartiAirtel (2.83%), IndusInd Bank (2.46%), JSW Steel (2.40%), TCS (2.07%) and Asian Paints (1.94%). All the 30 stocks in the index ended in the red, while the BSE’s midcap and small cap indices saw a milder drop of 0.65% and 0.52%, respectively. The NSE Nifty-50 index too fell 332 points or 1.35% to 24,336 points.