Sensex slumps 318 pts, Nifty slips below 11,600; bank stocks weigh

Snapping its three-day rising streak, equity benchmark BSE Sensex slumped 318 points Thursday, dragged by a sell-off in index heavyweights RIL, TCS, ICICI Bank and SBI. The 30-share index settled 318.18 points or 0.81 per cent lower at 38,897.46. It hit an intra-day low of 38,861.25 and a high of 39,204.47. Similarly, the broader NSE Nifty broke below the 11,600 mark, ending 90.60 points or 0.78 per cent down at 11,596.90. During the day, the index hit a low of 11,582.40 and a high of 11,677.15. Yes Bank was the biggest loser in the Sensex pack in absolute terms, cracking 12.85 per cent, after the company reported a massive 92.44 per cent slump in consolidated net profit to Rs 95.56 crore.




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