Sensex sheds 260 points, Nifty ends below 9,050; banking stocks drag

Equity benchmark BSE Sensex tumbled 260 points on Friday, dragged by losses in banking and financial stocks as RBI's rate cut and other measures to prop up the economy failed to meet market expectations. After falling over 450 points during the day, the 30-share index ended 260.31 points or 0.84 per cent lower at 30,672.59. The broader NSE Nifty too settled 67 points or 0.74 per cent down at 9,039.25.