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Sensex slumps nearly 290 points, banking stocks derail

Falling sharply in the last minutes of trading, the BSE Sensex slumped 289.29 points or 0.79 percent to close at 39,452.07 while the Nifty dropped 90.75 points or 0.76 percent to 11,823.30.

Sensex slumps nearly 290 points, banking stocks derail

New Delhi: Markets ended in the negative zone on Friday amidst crude prices following tanker attacks in the Gulf of Oman and volatility in the banking stocks at the domestic front.

Falling sharply in the last minutes of trading, the BSE Sensex slumped 289.29 points or 0.79 percent to close at 39,452.07 while the Nifty dropped 90.75 points or 0.76 percent to 11,823.30.

Sensex hit an intra-day low of 39,363.45 and a high of 39,799.90 while Nifty touched a low of 11,797.70 and a high of 11,911.85.

Top losers in the Sensex pack included IndusInd Bank, Bharti Airtel, Tata Motors, Axis Bank, Kotak Bank, Bajaj Auto, Yes Bank, HCL Tech, HUL and Hero MotoCorp, falling up to 4.36 percent. On the other hand L&T, Sun Pharma, Vedanta, PowerGrid and TCS rose up to 0.80 percent.

Meanwhile, foreign institutional investors bought equity worth Rs 172.35 crore, while domestic institutional investors sold shares to the tune of Rs 444.87 crore, provisional data available with stock exchanges showed on Thursday.