Sensex plunges 276 points, banking stocks tank

A benchmark index of Indian equities markets Thursday plunged 275.82 points or 1.03 percent as banking stocks tanked.

Good buying was observed in IT and healthcare sectors, while selling pressure was seen in banking, metal, oil and gas, auto and capital goods sectors.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 26,808.66 points, was trading at 26,468.87 points (at 2.37 p.m.) in the afternoon session, down 275.82 points or 1.03 percent from the previous day's close at 26,744.69 points.

The Sensex touched a high of 26,814.20 points and a low of 26,467.29 points in the trade so far.

The S&P IT index surged by 108.19 points and healthcare index gained by 78.47 points.

However, bankex plunged by 433.06 points, metal index dropped by 361.33 points, oil and gas index slid by 313.19 points, auto index fell by 117.20 points and capital goods index went down by 208.46 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 74.55 points or 0.93 percent down at 7,927.85 points.