11/02/2016 4:12 PM IST | Updated 15/07/2016 8:26 AM IST

Sensex Falls 800 Points On Massive Global Market Sell-Off

Bloomberg via Getty Images
An employee is reflected in a glass panel as he monitors securities on a computer monitor at a brokerage firm in Mumbai, India, on Tuesday, Aug. 25, 2015. Indian stocks advanced in volatile trading a day after the benchmark gauge plunged the most in six years, as banks helped counter declines in software exporters. Photographer: Dhiraj Singh/Bloomberg via Getty Images

The BSE Sensex fell more than 3 percent on Thursday and headed for their biggest daily falls in nearly six months, hitting their lowest levels since May 2014, as fears of a slowdown in the global economy hit markets worldwide.

State Bank of India (SBI.NS) fell 2.6 percent after saying quarterly net profit fell nearly two-thirds, below estimates.

India's broader Nifty was down 3.4 percent after earlier falling as much as 3.5 percent to below 7,000 points, its lowest level since Prime Minister Narendra Modi was elected in May 2014.

The falls would be the biggest since Aug. 24 of last year, when markets were hit hard by sharp falls in Chinese equities.

The benchmark Sensex was down 3.4 percent.

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