Sensex tanks 501 pts on selling in bank stocks, foreign fund outflows
Mumbai, Jul 18 (PTI) Benchmark stock indices Sensex and Nifty tumbled on Friday, marking their second straight day of losses due to foreign fund outflows and selling in banking shares after a muted start to the quarterly earnings season. The 30-share BSE Sensex tanked 501.51 points or 0.61 per cent to settle at 81,757.73. During the day, it shed 651.11 points or 0.79 per cent to hit a low of 81,608.13. The 50-share NSE Nifty dropped 143.05 points or 0.57 per cent to close at 24,968.40. Analysts said investors turned cautious over banking stocks in response to Axis Bank’s latest