Sensex tanks 345 points, Nifty slips below 10,500

Sensex tanked 345.56 points to end at 34,812.99 while Nifty fell 103 points to 10,482.20.

New Delhi: Markets pared their initial gains and slipped deep in the red on Monday, as investors turned cautious ahead of the release of key macro-economic indicators with the Nifty and Sensex both falling by over 1 percent.

Sensex tanked 345.56 points to end at 34,812.99. During the volatile session, Sensex swung over 576 points on alternate bouts of hectic buying and selling. The gauge had lost 79.13 points on Friday.

Nifty fell 103 points to 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.

The government would release the Consumer Price Index (CPI) for October and the industrial production data for September later in the day. The CPI data for September stood at 3.77 percent, up from 3.69 in August.

Meanwhile, on a net basis, foreign funds bought shares worth a net Rs 614.14 crore, while domestic institutional investors (DIIs) sold shares to the tune of Rs 337.28 crore on Friday, provisional data showed.