Sensex plunges 400 points, Nifty settles below 15,000 dragged by banks

Indian equity market ended on Friday amid weak global cues as rising bond yields spooked investors. The Sensex ended 440.76 points, or 0.87 percent lower at 50,405.32, while the Nifty settled at 14,938.10, down 142.65 points, or 0.95 percent. 

All the sectoral indices ended in the red with banks, financials, and metal indices leading the losses. Broader markets also succumbed to selling pressure.

On the Nifty50, IndusInd Bank, UPL, Tata Motors, Wipro, and Hindalco Industries were the top losers, while ONGC, GAIL India, Maruti Suzuki, Kotak Mahindra Bank, and Hero MotoCorp were the top gainers.

The BSE Sensex on Thursday plunged by around 599 points to crack below the key 51,000-level amid a meltdown in global shares triggered by a surge in US bond yields.

The broader NSE Nifty too closed with a loss of 164.85 points or 1.08 percent at 15,080.75.

On the Sensex chart, HDFC, L&T, SBI, Axis Bank, Bajaj FinServ, and HDFC Bank were major laggards dropping up to 2.62 percent. Of 30 Sensex shares, 25 closed with losses.