Sensex tanks 1,159pts on broad-based sell-off; Nifty ends below 17,900

Financials led by PSU banks, realty, metal and FMCG shares where the major losers in trade. All NSE sectoral indices ended with losses of more than a per cent

Closing Bell

The key benchmark indices broke respective psychological levels in trade on Thursday amid heavy broad-based sell-off. While the Sensex closed 1,158 points lower at 59,985, the Nifty lost 354 points to end the day at 17,857 levels.

In the process, the Nifty has slipped below its 20-DMA, which has opened the door for further downside, technical chartists said.

"Relentless selling by FIIs is a key reason for this correction in the market. The next support level for the Nifty is around 17,650 level. Below this, 17,450-17,250 will be the next support zone. On the upside,