Sensex tanks 1,017 pts to 2-week low on selling in IT, PSB stocks

Following weak trend in equities, the mcap of BSE-listed cos slumped by Rs 5,49,925.16 crore to Rs 4,60,18,976.09 crore ($5.48 trillion)

Falling for the fourth straight day, benchmark Sensex tanked 1,017 points to close at a two-week low on Friday due to selling in IT, oil & gas and PSU bank shares triggered by weak global trends and foreign fund outflows.

The 30-share BSE Sensex tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93, the lowest closing level since August 23. As many as 24 Sensex shares closed in the red while six advanced. During the day, it plunged 1,219.23 points or 1.48 per cent to 80,981.93.

Following the weak trend in equities, the market capitalisation of BSE-listed firms slumped by Rs 5,49,925.16 crore to Rs 4,60,18,976.09 crore (USD 5.48 trillion).

The NSE Nifty dropped 292.95 points or 1.17 per cent to close at 24,852.15, its third day of decline.