Stock markets suffer major meltdown as West Asia crisis intensifies; Sensex, Nifty tumble over 1 pc

By Daily Excelsior – MUMBAI, Mar 2: Stock market benchmark indices Sensex and Nifty nosedived over 1 per cent on Monday as investors’ sentiment were hit hard following a sharp spike in crude oil prices amid escalating tensions in West Asia. Weak trends in global markets and heavy foreign fund outflows also dented sentiments. The 30-share BSE Sensex tanked 2,743.46 points or 3.37 per cent to 78,543.73 in early trade. It later ended at 80,238.85, down 1,048.34 points or 1.29 per cent. The 50-share NSE Nifty tumbled 575.15 points or 2.28 per cent to 24,603.50 in intra-day trade. The benchmark…