Sensex tanks 300 points, Nifty closes below 10,600

New Delhi: Sensex tanked 300 points while the Nifty came below 10,600 on Friday due to weakness in the global markets along with persistent rise in crude oil prices and also amid political wrangling in Karnataka.

Ending in the red for the 4th straight session, BSE Sensex fell 300.82 points or 0.86 percent at 34,848.30 amidst heavy sell off in auto, infra, banking and IT stocks. The NSE Nifty on the other hand slumped 86.30 points or 0.81 percent at 10,596.40.

Stocks of Bajaj Auto, M&M, Adani Ports, ONGC, Coal India, Maruti, ICICI Bank, Tata Motors, L&T, Wipro and Sun Pharma led the nosedive by falling upto 3.40 percent. Sensex touched a high of 35163.11 and a low of 34821.62 in intra-day trade.

The barometer had lost 407.59 points in the previous three sessions. During the week, the Sensex lost 687.49 points, or 1.93 percent, while the Nifty dropped 210.10 points, or 1.94 percent.

State-run banks remained under selling pressure on disappointing quarterly results due to a jump in provisions for bad loans.

With PTI Inputs