Sensex ends 538 points down; Bank stocks crash

A benchmark index of Indian equities markets closed Tuesday's trade down 538 points tracking the SGX Nifty and most of the Asian stocks.

Internationally, the US stock market had ended Monday's trade in a volatile session, as an unabated fall in oil prices continued to erode investor confidence.

European stocks plunged in the final hours of Monday's session, extending steep recent losses as investors remained anxious about European Central Bank inaction.

All sector-based indices, except information technology and technology, entertainment and media (TECK) of the S&P Bombay Stock Exchange (BSE) ended in red.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 27,181.18 points, closed trading at 26,781.44 points (provisionally), down 538.12 points or 1.97 percent from the previous day's close at 27,319.56 points.

The Sensex touched a high of 27,199.37 points and a low of 26,736.23 points in the trade so far.

The S&P BSE bank index plunged 612.41 points, followed by metal index which crashed 440.74 points, healthcare index sank 408.82 points, automobile index which fell 299.08 points, capital goods index dwindled by 250.05 points, fast moving consumer goods (FMCG) index dived by 247.88 points, consumer durables index which declined 227.20 points and oil and gas index sank 140.11 points.

However, IT index was up 167.96 points and TECK index rose by 63.13 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed in the red. It was down 152 points or 1.85 percent at 8,067.60 points.