Bears tighten grip on mkts; Sensex tanks 1,176 points

Markets log biggest weekly crash in 2 years

- PTI

Equity benchmark indices Sensex and Nifty plunged about 1.5 per cent on Friday, taking their downtrend to the fifth straight session, due to risk aversion in the global markets after the hawkish stance of the US Federal Reserve.

An across-the-board selloff in equity markets amid unabated selling by foreign investors added to the pressure, traders said.

The 30-share BSE benchmark tumbled 1,176.46 points or 1.49 per cent to sink below the 79,000 mark to end at 78,041.59. During the day, it slumped 1,343.46 points or 1.69 per cent to 77,874.59.