Markets end in red, Sensex tanks nearly 500 points

Domestic stock markets on Monday closed in red with BSE Sensex crashing 495.10 points to close at 38,645.18. Nifty, on the hand, sank 158.35 points to close at 11,594.45.

The benchmark BSE Sensex cracked over 300 points in early trade Monday tracking losses in index heavyweights RIL, HDFC and ICICI Bank, amid weak global cues, sinking rupee and soaring crude oil prices.

The 30-share index was trading 309.56 points or 0.79 per cent lower at 38,830.72. The NSE Nifty too plunged to 101.80 points, or 0.87 per cent, to 11,651.

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In the previous session Thursday, the BSE bourse settled 135.36 points, or 0.34 per cent, lower at 39,140.28. The broader Nifty slipped 34.35 points, or 0.29 per cent, to 11,752.80.

The stock market was closed Friday on account of Good Friday.