Markets plunge, Sensex tanks 620 pts

Sensex nosedived to its nearly 14-month low by losing over 600 points on aggressive selling, sparked by rising inflation, weak global cues and record crude prices.

The Bombay Stock Exchange benchmark Sensex on Friday nosedived to its nearly 14-month low by losing over 600 points on aggressive selling, sparked by rising inflation, weak global cues and record crude prices.

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The 30-share BSE barometer tanked 619.60 points to close at 13,802.22, a level last seen on May 10 last year.

The key index dipped to day's low of 13,760.24 points and a rose to a high of 14,127.76 points.

The 50-share Nifty on National Stock Exchange also dropped 179.20 points at 4,136.65, after touching the day's low of 4,119.20 and a high of 4,315.30 points.

Country's biggest private sector lender ICICI Bank fell to its lowest in 21 months, while housing finance major HDFC lost a whopping dropped 8.15 per cent.

Other index-related heavyweights Reliance Infra lost 7.72 per cent, Infosys 4.17 per cent, Reliance Industries 2.56 per cent and Wipro 7.78 per cent.