Sensex plunges 504 pts; bank, auto stocks tank

Equity benchmark BSE Sensex plummeted 504 points on Wednesday tracking heavy losses in banking and auto stocks as investors turned jittery over geopolitical uncertainties and global slowdown concerns.

After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52.

The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.

Top laggards in the Sensex pack were SBI, Tata Motors, Maruti, Yes Bank, M&M, HDFC twins, ITC, Vedanta, Hero MotoCorp, Tata Steel and L&T, losing up to 7.37 per cent.

On the other hand, PowerGrid, TCS, NTPC, HCL Tech, Tech Mahindra and RIL rallied up to 4.39 per cent.