Sensex slips 500 points, Nifty below 11,800 as financials drag

WION Web Team NEW DELHI Oct 28, 2020, 01.41 PM(IST) Oct 28, 2020, 01.43 PM(IST)

File photo. Photograph:( Reuters )

Story highlights

The S&P BSE Sensex tanked over 500 points or 1.3 per cent to 39,957 levels while NSE's Nifty was trading nearly a per cent lower at 11,782 points. Nifty Bank was quoting nearly 2 per cent lower at 24,327 levels. 

Indian stock market indices witnessed a sharp slide in the afternoon deals on Wednesday owing to sell-off in financial stocks. 

The S&P BSE Sensex tanked over 500 points or 1.3 per cent to 39,957 levels while NSE's Nifty was trading nearly a per cent lower at 11,782 points. Nifty Bank was quoting nearly 2 per cent lower at 24,327 levels. 

The Nifty Bank and Fin Services indices were also down 1.4 per cent and 1.6 per cent, respectively. Meanwhile, broader markets continued to outperform the benchmarks during the day. 

Meanwhile, the Indian rupee is trading at the day's low at 73.77, amid selling seen in the domestic equity market.

It opened flat at 73.70 per dollar against Tuesday's close of 73.71.

(With inputs from agencies)

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