Sensex plunges 1,115 points; tech, bank stocks bleed

IndusInd Bank was the top laggard, tumbling over 7 per cent, followed by Bajaj Finance, M&M, Tech Mahindra, TCS and Tata Steel.

Falling for the sixth straight session, domestic equity benchmark Sensex plunged 1,115 points on Thursday amid a heavy selloff in global equities.

After opening on a weak note, the 30-share BSE index lost further ground and settled 1,114.82 points or 2.96 per cent down at 36,553.60.

Similarly, the NSE Nifty crashed 326.30 points or 2.93 per cent to close at 10,805.55.

Barring Hindustan Unilever, all Sensex components ended in the red.

IndusInd Bank was the top laggard, tumbling over 7 per cent, followed by Bajaj Finance, M&M, Tech Mahindra, TCS and Tata Steel.

Traders said growing concerns over economic recovery and lack of fresh stimulus by central banks led to the global market selloff.

Fears of a second wave of COVID-19 cases in many economies also weighed on sentiment, they added.

In the forex market, the rupee depreciated 32 paise to finish at 73.89 against the US dollar.

Photograph: Shailesh Andrade/Reuters