Sensex crashes 450 pts, Nifty holds 7600; ICICI, SBI tank 5%

Further selling in banks & auto stocks drove the market down by 1.8 percent in afternoon trade after RBI monetary policy, tracking weakness in global peers post slump in commodities.

The 30-share BSE Sensex cracked 450.84 points or 1.77 percent to 24948.81 and the 50-share NSE Nifty plunged 139.60 points or 1.80 percent to 7619.20. The BSE Midcap and Smallcap indices were down 1.4 percent each.

The market breadth remained weak as about 1663 shares declined against 703 advancing shares on Bombay Stock Exchange.

ICICI Bank, SBI, Hindalco Industries, Adani Ports, Bharti Airtel and Tata Motors topped selling list on Sensex, down 4-5 percent followed by Infosys, L&T, Axis Bank, M&M, Maruti, Coal India, GAIL and BHEL with 2-3 percent loss.

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Posted in: Indian Market Tips