Sensex sinks 300 pts, Midcap plunges 2%; IT stocks outperform

Epic Update ICICI Bank

Epic Update ICICI Bank

Dalal Street caught in bear grip as equity benchmarks fell more than 1 percent and the broader markets shed more than 2 percent. Nifty Auto and Bank indices were down 2 percent each while Realty plunged 4 percent.

The 30-share BSE Sensex was down 331.12 points or 1.27 percent at 25819.12 and the 50-share NSE Nifty declined 116.95 points or 1.45 percent to 7957.15.

About five shares declined for every share rising on the BSE.

Technology stocks outperformed the market with the Nifty IT index rising 0.4 percent as the rupee traded over 8-month low. It was down 0.18 percent to 68.25 against the US dollar.

State Bank of India was the biggest loser on the Sensex, down over 4 percent followed by Adani Ports, Tata Steel, HDFC, ICICI Bank and Tata Motors.
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