Sensex tanks 821 pts on heavy selling in banking, power stocks

Investors' wealth eroded by Rs 5.29 lakh crore to Rs 437.24 lakh crore ($5.18 trillion)

Benchmark BSE Sensex tumbled by nearly 821 points or more than 1 per cent and broader Nifty plunged below 23,900 level on Tuesday due to heavy selling in banking, power and auto shares and sluggish global trends.

The 30-share Sensex tumbled 820.97 points or 1.03 per cent to settle at 78,675.18 with 25 of its constituents ending lower and five higher. During the day, it plunged 948.31 points or 1.19 per cent to 78,547.84.

Falling for the fourth day running, the NSE Nifty tanked 257.85 points or 1.07 per cent to close at 23,883.45.

As many as 46 Nifty stocks closed lower and four higher.