Sensex tanks 1,170pts, Nifty below 17,450; RIL, Paytm slide, Airtel up 4%

The broader markets ended with deeper cuts compared to the benchmark indices. The BSE Midcap and Smallcap indices were down 2.5 per cent and 2.9 per cent, respectively

Closing Bell

The key benchmark indices went into free fall mode as market participants resorted to heavy selling on dis-appointment over IPO valuations, cancellation of RIL-Saudi Aramco deal and persistent selling by foreign investors.

The BSE benchmark index, the Sensex, tocuhed a high of 59,778 during its extreme brief stay in the positive zone this morning, thereafter the index dropped to lower levels as the day progressed. The selling pressure was so intense, that the BSE benchmark slumped to a low of 58,012 - down 1,766 points in intra-day trades.

The Sensex, however, recovered a wee bit