Mumbai: Market benchmark BSE sensex breached the 25,000-level on Monday after crashing 308 points to 24,893.81 — its lowest closing in 15 months — on reports of a deficit monsoon and rupee falling to a fresh two-year low, while continued selling on China-fuelled worries also weighed.
Moreover, sell-off in Shanghai shares, which opened for trading after four days also hit sentiment here.
Meanwhile, China has revised its 2014 growth figure to 7.3 per cent from the previously released figure of 7.4 per cent.
"Data from China continued to rattle investor nerves and the same was reflected in day's performance of Asian markets," said Satya Prakash Goel director of Bonanza Portfolio.
Consequently, Nifty also crashed below the 7,600-mark.
Stock market, which was trading range-bound in afternoon deals turned bearish after reports emerged that Met department has said that monsoon rains in the country may be 82 per cent of long-term average versus 88 per cent previous forecast.
However after trading hours, the department clarified that that there won't be any revision and long-term average for the monsoon will be maintained at 88 per cent.
The 30-share index after opening positive at 25,302.98, advanced to a high of 25,387.32 in early trade. However, it succumbed to profit-booking and slipped below the 25,000-mark to touch a low of 24,851.77 points, before ending 308.09 points or 1.22 per cent down at 24,893.81.
This is the index's lowest closing since June 4, 2014, when it had settled at 24,805.83.
The NSE Nifty cracked crucial 7,600-mark by tumbling 96.25 points or 1.26 cent to 7,558.80 — its lowest closing since July 15, 2014.
Axis Bank, Vedanta, ICICI Bank, Hindalco, Lupin, BHEL, Dr Reddy's, Coal India, Sun Pharma, NTPC, L&T, SBI, Tata Steel, GAIL, Infosys, HUL, HDFC Bank, ITC, Bharti Airtel, Bajaj Auto and Hero MotoCorp were among the major BSE losers.
Sectorwise, BSE healthcare index suffered the most by falling 2.57 per cent, followed by metal 2.31 per cent, bankex (2.10%), power (1.92%), capital goods (1.89%), realty (1.75%) and PSU (1.64%).
In broader markets, mid-cap index fell by 2.19 per cent, while small-cap ended 1.76 per cent lower.
Among other Asian markets, Shanghai ended 2.52 per cent down, Hong Kong's Hang Seng dived 1.23 per cent, while Japan's Nikkei ended 0.38 per cent higher.
On the other hand, European markets were in a better shape in opening trade.
