Sensex plunges 500 pts, Nifty below 8300; HDFC, SBI drag

The Sensex tanked 506.70 points or 1.82 percent to 27342.29 and the Nifty dropped 153.55 points or 1.82 percent to 8279.85. The BSE Midcap and Smallcap indices lost 1.5 percent each. More than two shares declined for every share advancing on the Bombay Stock Exchange.

Shares of HDFC, ITC, State Bank of India, Axis Bank and Hero Motocorp fell more than 3 percent. ICICI Bank, HDFC Bank, HUL, M&M, Cipla and Wipro were down over 2 percent.

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Posted in: Indian Market Tips