Nifty Hits 52-Week Low, Sensex Down 371 Points

The Indian markets hit new yearly lows on Thursday amid deteriorating global sentiments. The Sensex and Nifty closed near the day's low, a sign that investors have little confidence in the markets going forward. Indian indices were the worst performers among all Asian indices. The Sensex closed 371 points lower at 16,469.79 and the Nifty declined 112.45 points to 4,944. Earlier, the Nifty hit a new 52-week low (4,932.15) with the NSE Nifty slipping below the August 9 lows.