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Sensex closes 499 points down; bank stocks plummet

Mumbai, Jan 30
A benchmark index of Indian equities markets closed Friday's trade down 499 points or 1.68 percent, as banking, automobile and consumer durables stocks declined.

The markets plunged after scaling a new high of 29,844.16 points in the morning trade session. It surpassed the previous high of 29,786.32 points touched Jan 28.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 29,801.60 points, was trading at 29,182.95 points, down 498.82 points or 1.68 percent from the previous day's close at 29,681.77 points.

The Sensex touched a high of 29,844.16 points and a low of 29,070.48 points in the intra-day trade.

Heavy selling pressure was observed in banking, automobile, consumer durables, capital goods and metal stocks, while healthy buying took place in realty, information technology (IT) and power sectors.

The S&P BSE bankex was down 737.58 points, followed by automobile index which was lower by 245.19 points, consumer durables index declined by 200.93 point, capital goods index decreased by 122.41 points and metal index lost 85.85 points.

However, realty index was up 38.55 points, IT index was higher by 22.27 points and power index gained 19.33 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed 143.45 points or 1.60 percent down at 8,808.90 points. The Nifty had touched a new record high in the morning trade at 8,996.60 points.