Sensex tanks 806 points, Nifty closes below 10,600

All sectoral indices were trading in the red, with IT, auto, pharma, and realty stocks witnessing most losses.

Sensex tanks 806 points, Nifty closes below 10,600

New Delhi: In a volatile session, Sensex and the NSE Nifty plunged by more than 2 percentage in closing trade as rupee sank to another low amid boiling crude prices, weak global cues.

The BSE Sensex tanked 806.47 points to close at 35,169.16. Similarly the NSE Nifty slumped 259 points to 10,599.25.

All sectoral indices were trading in the red, with IT, auto, pharma, and realty stocks witnessing most losses. From the 30-share pack, 24 scrips declined, while 6 advanced. RIL was the worst hit from the pack plunging 7.03 percent followed by Hero MotoCorp 5.45 percent and TCS 4.54 percent. Nearly 400 stocks hit their 52-week low on BSE Thursday. At the BSE, 1,889 stocks declined, while 775 advanced and 138 remained unchanged.

Analysts told news agency PTI that the equity benchmark indices have fallen nearly 10 percent from peak levels attained in August, led by weak domestic sentiments, global uncertainties, depreciating rupee and strengthening crude oil prices.  With rupee and crude oil showing no signs of stability, weakness is likely to continue in the coming sessions, they said.    

Stocks of Oil marketing companies fell further following government decision to reduce excise duties on fuel. Concerned over the spike in fuel prices, finance minister Arun Jaitley announced excise duty cut on petrol and diesel by Rs 1.50 per litre adding that  Oil Marketing Companies (OMCs) will absorb Re 1 per litre on fuel.

With PTI Inputs

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