Sensex tanks 444 points; Nifty cracks below 8,800-mark

Zee Media Bureau

The BSE benchmark Sensex tanked 443.71 points Monday, tracking heavy selling in global markets following re-emergence of US Fed rate hike concerns.

Selling was seen in realty, banking, auto, capital goods, finance, FMCG, power and metal sectors, while only IT and Teck stocks were trading in the green.

The 30-share Sensex resumed sharply lower at 28,481.09 and drifted further to 28,251.31. It was last quoted at 28,353.54, showing a fall of 443.71 points.

The NSE's 50-share Nifty was down by 151.10 points at 8,715.60.

Meanwhile, Foreign portfolio investors (FPIs) sold shares worth Rs 315.24 crore on Friday, as per provisional data.

Overseas, Asian market plunged as investors were spooked by rising bond yields and talk the Federal Reserve might be serious about lifting US interest rates as early as next week.

US stocks tumbled last Friday, as investor nervousness increased following a nuclear test by North Korea and Federal Reserve officials' comments lifted rate hike bets.

With Agency Inputs