Sensex cracks over 400 pts, Nifty below 8600; J&K Bank tanks 17%

Epic Update J&K Bank
Epic Update J&K Bank

The market is slipping away with the Sensex is down 405.09 points or 1.4 percent at 27677.25. The Nifty slipped 125.55 points or 1.4 percent at 8583.25. 
About 730 shares have advanced, 1926 shares declined, and 107 shares are unchanged.

ONGC, infosys, Cipla and Hero MotoCorp are top gainers while Tata Motors, Adani Ports, HDFC, ICICI Bank and SBI are losers in the Sensex. J&K Bank is down 17 percent. J&K Bank has said that it is going to post losses for next couple of quarters and FY17 as consolidation of balancesheet may take 4-6 quarters.
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