Get latest articles and stories on India at LatestLY. Benchmark equity indices Sensex and Nifty plunged by 1 per cent on Friday due to across-the-board profit taking by investors after a recent record-breaking rally as US inflation data dashed hopes of a rate cut by June. India News | Stock Markets Plunge as US Inflation Dashes Rate Cut Hopes; Sensex, Nifty Lose 1%.