Sensex tanks 433 points; Nifty closes below 11,200 level

Tanking 663 points from the day's high, the 30-share BSE index settled 433.15 points or 1.13 per cent lower at 37,877.34.

New Delhi: Markets ended in the red on Friday tracking heavy losses in banking, consumption and auto stocks amid a selloff in global markets.

The 30-share BSE index settled 433.15 points or 1.13 per cent lower at 37,877.34 while the broader NSE Nifty slumped 122.05 points or 1.08 per cent to close at 11,178.40.

Major losers in the Sensex pack were Axis Bank, SBI, M&M, Bajaj Finance, ITC, HDFC Bank, HCL Tech, IndusInd Bank, Maruti, Kotak Bank, Powergrid and ONGC, falling upto 2.81 percent. On the other hand Sun Pharma, NTPC, Tata Steel, Titan, Infosys were the major gainer rising upto 2.04 percent.

In the forex market, the rupee settled 6 paise lower at 74.90 against US dollar.

In the previous session, the Sensex had settled 59.14 points or 0.15 per cent lower at 38,310.49, and the Nifty slipped 7.95 points or 0.07 per cent to finish at 11,300.45.

Exchange data showed that foreign institutional investors bought equities worth Rs 416.28 crore on a net basis on Thursday.

Bourses in Hong Kong and Seoul ended in the red, while Shanghai and Tokyo settled with gains. Global oil benchmark Brent crude was trading 0.65 per cent lower at USD 44.67 per barrel.