Sensex plunges 400 points; Bank stocks crash

Mumbai, Dec 16 (IANS) A benchmark index of Indian equities markets Tuesday plunged 400 points in the post afternoon trade session, tracking the SGX Nifty and most of the Asian stocks.

Internationally, the US stock market ended Monday’s volatile session lower, as an unabated fall in oil prices continued to erode investor confidence. European stocks plunged in the final hours of Monday’s session, extending steep recent losses as investors remained anxious about European Central Bank inaction.

All sector-based indices, except information technology and technology, entertainment and media (TECK) of the the S&P Bombay Stock Exchange (BSE) were either trading in the red or were flat.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 27,181.18 points, was trading at 26,917.27 points (at 1.00 p.m.), down 402.29 points or 1.47 percent from the previous day’s close at 27,350.68 points.

The Sensex touched a high of 27,199.37 points and a low of 26,845.54 points in the trade so far.

The S&P BSE bank index plunged 489.03 points, followed by metal index which crashed 336.98 points, automobile index declined 252.62 points, healthcare index sank 259.50 points, consumer durables index fell 221.34 points, capital goods fast moving consumer goods (FMCG) index dived by 191.66 points and capital goods index sank 150.45 points.

However, IT index was up 194.99 points and TECK index rose by 73.61 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading also trading in the red. It was down 117 points or 1.42 percent at 8,102.60 points.

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