Sensex tanks 900 points, gives up 50,000 (2nd Ld)


The stock market was on a freefall on Monday as the Sensex lost over 900 points during the afternoon session, falling below the 50,000-mark.

The Nifty50 is also trading below the psychological 15,000-level.

Heavy selling was witnessed in FMCG, IT, auto and banking stocks.

Along with weak global cues, rising bond yields in the US and profit booking weighed on the domestic market.

Around 1.40 p.m., Sensex was trading at

49,960.88, lower by 928.88 points or 1.83 per cent from its previous close of 50,889.76.

The Nifty50 was at 14,741.25 points, lower by 240.50 points or 1.61 per cent from its previous close.