(MENAFN- Qatar News Agency) The Bombay Stock Exchange's benchmark Sensex index was down 4.03% in Monday morning trade, losing more than 1,100 points to trade at 26,262.90.
The broader 50-share S&P CNX Nifty of the National Stock Exchange was down 4.14% and trading at 7,456.65.
The rupee came under a sharp sell-off and hit a fresh two-year low of 66.49 per dollar.
Reserve Bank of India Governor Raghuram Rajan said the central bank will not hesitate to use reserves to reduce the volatility in currency. "Many of you watching markets this morning worried about volatility... India is in a good condition. RBI won't hesitate to intervene on rupee," he said.
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