Sensex tanks 900 points to slip below 73k amid broad-based selloff; smallcap, midcap tumble
The Hindu
Sensex crashes over 900 points below 73,000 due to widespread selling pressure, foreign investor selling, and sectoral losses.
Equity benchmark index Sensex on March 13 crashed over 900 points to sink below the 73,000 level due to widespread selling pressure amid a sharp fall in smallcap and midcap indices.
Besides, deep losses in utility, energy and metal stocks and recent selling by foreign investors added to the gloom, analysts said.
Benchmark indices started the session on a positive note, but the selling intensified during afternoon trade, with all sectoral indices ending in the red.
The 30-share index tanked 906.07 points or 1.23% to settle at 72,761.89. During the day, it dropped 1,152.25 points or 1.56% to 72,515.71.
The Nifty plummeted 338 points or 1.51% to 21,997.70.
Power Grid was the biggest loser in the Sensex pack, sliding over 7%, followed by NTPC, Tata Steel, Tata Motors, JSW Steel, Bharti Airtel, Titan, Reliance Industries and Hindustan Unilever.
In contrast, ITC, ICICI Bank, Kotak Mahindra Bank, Nestle, Bajaj Finance and HDFC Bank were the gainers.
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