Joining a savage global equities rout, India’s domestic bourses plunged to their lowest level in nearly three years as panicky investors dumped shares on worries about a sharp worldwide economic slowdown and slump in corporate profits. The sell-off began in mid-morning trade as the much-awaited mid-year monetary policy review by the Reserve Bank that kept all key rates unchanged failed to offer any succour to the plunging market.

The Sensex tanked by 1,071 points, or 10.96 per cent, to 8,701.07 as a selling avalanche hit the already battered global markets — from Tokyo to Hong Kong, Seoul, London and Paris.

In India, the market crash was so vicious that 20 stocks from the 30-share Sensex pack fell more than 10 per cent each with DLF, Ranbaxy Laboratories and Hindalco Industries leading the fall. Reliance Industries, India’s largest company in terms of market value and sales, tumbled 16.4 per cent as its net profit in the second quarter was at the slowest pace in the past 10 quarters. What should be the investor strategy now? “When sentiment turns, markets tend to cover 20-25 per cent in the blink of an eye. If you are out of the market then, you will miss out on the recovery. If you have the money, invest in small amounts. We are not going to get such attractive pricing again for a long time,” said Hitesh Agarwal, Head of Research, Angel Broking.