Sensex tanks over 600 points on global selloff

Mumbai: Domestic equity benchmark Sensex plunged over 600 points in opening session on Friday tracking a massive selloff in global equities.

The 30-share BSE index was trading 615.70 points or 1.58 per cent lower at 38,375.24; while the NSE Nifty crashed 170.40 points or 1.48 per cent at 11,357.05.

SBI was the top loser in the Sensex pack, shedding around 2 per cent, followed by Axis Bank, Kotak Bank, ICICI Bank, IndusInd Bank, HDFC twins and HCL Tech.

On the other hand, Maruti was the sole gainer.

In the previous session, Sensex ended 95.09 points or 0.24 per cent lower at 38,990.94; and the NSE Nifty closed 7.55 points or 0.07 per cent down at



11,527.45.

Exchange data showed that foreign institutional investors bought equities worth Rs 7.72 crore on a net basis on Thursday.

According to traders, domestic equities followed the massive selloff in global equities.

Stock exchanges on Wall Street ended with heavy losses in overnight session led by carnage in technology stocks with Apple shares plunging around 8 per cent.

Following suit, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with over 1 per cent losses in mid-session deals.

Global oil benchmark Brent crude was trading 0.98 per cent lower at USD 43.64 per barrel.