Sensex plunges 360 points; bank stocks crash

A benchmark index of Indian equities markets Tuesday was trading in the red during the pre-afternoon session, tracking the SGX Nifty and most of the Asian stocks.

Internationally, the US stock market ended Monday's volatile session lower, as an unabated fall in oil prices continued to eroded 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 the S&P Bombay Stock Exchange (BSE) were either trading in the red.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 27,181.18 points, was trading at 26,944.75 points (at 11 a.m.), down 362.28 points or 1.33 percent from the previous day's close at 27,350.68 points.

The Sensex touched a high of 27,199.37 points and a low of 26,944.75 points in the trade so far.

The S&P BSE bank index plunged 507.85 points, followed by metal index which declined 319.98 points, automobile index crashed 256.06 points, healthcare index drowned 226.57 points, consumer durables index fell 193.94 points and oil and gas index sank 122.85 points.

However, AIT index was up 192.72 points and TECK index increased by 65.58 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading also trading in the red. It was down 106.95 points or 1.30 percent at 8,112.65 points.