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Sensex tanks 560 pts, Nifty ends at 11,419; bank, auto stocks bleed

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Extending losses for the second consecutive session, market benchmark BSE Sensex plunged 560 points Friday after the government thwarted hopes of a tax relief for FPIs. Led by a sell-off in auto and banking stocks, the 30-share index cracked 560.45 points or 1.44 per cent to settle at 38,337.01. It hit an intra-day low of 38,271.35 and a high of 39,058.73, swinging 787 points. Similarly, the broader NSE Nifty sank 177.65 points or 1.53 per cent to 11,419.25. During the day, the index hit a low of 11,399.30 and a high of 11,640.35.

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