Sensex plunging to its lowest level since April 2007

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    Markets continue to slide with the Sensex plunging to its lowest level since April 2007 and breaching the previous 2008 low of 12,514. The Rupee, too, is at a two-year low against the Dollar. Rupee has declined 6.2 per cent this month against the Dollar and this is the biggest monthly drop since November 1997. Selling by Foreign Institutional Investors in equity markets for the last couple of days and expectations of further pull-out due to financial crisis also pushed the Rupee down.