Sensex tanks 1,172 points in trade today; Key reasons behind the sharp fall

In Monday's early trade, the two frontline indices dropped 2 per cent each as IT major Infosys and banking giant HDFC Bank plunged sharply on disappointing Q4 performance

Equity markets have registered sharp losses over the last four sessions with the BSE Sensex tanking 1,172 points on Monday, and the Nifty50 dropping below 17,200 with a loss of 304-odd points.

In Monday's intra-day trade, the two frontline indices dropped over 2 per cent each to the day's low as IT major Infosys and banking giant HDFC Bank plunged sharply on disappointing Q4 performance.

"The sacrosanct support of '20-day EMA' is positioned at 17,450 for the Nifty, which coincides with the breakout point of the previous congestion zone. Till the time Nifty holds 17,400 – 1,200, we remain