Equity benchmark Sensex tanked over 1,700 points on Friday and Nifty touched a low of 14,576.75 points. This fall can be attributed to rising bond yields; and anticipation about the NSO (National Statistical Office) data on gross domestic product (GDP). Meanwhile, Asian markets also traded low after Wall Street slumped.
Banking and financial stocks dragged the market by over 4 per cent. The shares of ICICI Bank, HDFC Bank, M&M, Axis Bank, Kotak Bank and others slumped by over 4 per cent.
The shares of ICICI Bank, HDFC Bank, M&M, Axis Bank and Kotak Bank touched a low of Rs 592.30, Rs 1,521.50, Rs 809.25, Rs 728.25 and Rs 1800.10 per piece respectively during the day.
Meanwhile, mid and small-caps were outperforming their larger caps as the BSE Midcap and Smallcap indices were down by over 2.15 percent and 1.19 percent, respectively.
At 12.30, BSE Sensex 50 was down by 3.27 per cent. Meanwhile, BSE Private Banks Index slumped by over 4.80 per cent.