Banks, IT drag Sensex 678 pts down, Nifty gives up 17,700; IRCTC falls 8%

The BSE Sensex has now shed 5 per cent (2,938 points) from its recent peak of 62,245. The Nifty has declined 3.8 per cent (677 points) in the last two weeks.

Closing Bell

The markets exhibited high amount of volatility for the second day in row on the back of unabated selling pressure in select index heavyweights. The BSE Sensex tumbled to a low of 59,089, but eventually ended 678 points lower at 59,307. In the process, the BSE index has now shed 5 per cent (2,938 points) from its recent peak of 62,245.

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The NSE Nifty logged its second straight weekly loss, down 185 points at 17,672. The Nifty has declined 3.8 per cent (677 points) in the