MUMBAI: Amid negative signs, the Indian stock market has seen a strong sell-off on Thursday. At the end of the day, the Sensex at the Bombay Stock Exchange plunged 383 points, or 0.6 percent, to close at 37,068, while the Nifty tumbled below the 11000 levels with a gain of 98 points, to 10,948.30. This is the second consecutive trading day when the market has seen a weakness.
In these two days, the Seines have broken 572 points. On the other hand, Nifty Fifty has registered a weakness of 157 points. The stock of the banking sector witnessed the biggest decline during trading. On the other hand, shares of the Pharma sector led by Sunpharma showed firmness. Shares of the banking sector are also in a weak phase. The worst decline on Thursday was once again in shares of Yes Bank (3.61 percent).
Earlier on Wednesday, Yes Bank shares tumbled 7.13 percent. The bank's stock has fallen more than 68 percent this year and the market capitalization has registered a decline of Rs 26,000 crore. In addition, shares of SBI, ICICI Bank, Kotak Bank, Axis Bank, and HDFC have also shown a weakness.