Sensex tanks 283 points; IT stocks plunge

A benchmark index of Indian equities markets Monday plunged 282.69 points or 0.99 percent as IT stocks dropped.

Heavy selling pressure was seen in IT, capital goods, banking, auto, technology, media and entertainment (TECK), metal and consumer durables sectors, while marginal good buying was seen in fast moving consumer goods (FMCG) sector.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 28,433 points, was trading at 28,175.41 points (at 01.25 p.m.) in the afternoon session, down 282.69 points or 0.99 percent from the previous day's close at 28,458.10 points.

The Sensex touched a high of 28,494.85 points and a low of 28,147.63 points in the trade so far.

The S&P IT index dropped by 336.63 points, capital goods index slipped by by 283.30 points, bankex fell by 246.07 points, auto index plunged by 147.73 points, TECK index went down by 147.96 points, metal index slid by 117.71 points and consumer durables index plummeted by 115.37 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also was trading 87 points or 1.02 percent down at 8,451.30 points.