Sensex sinks 587 pts; Yes Bank nosedives 14%

Benchmark equity index Sensex plummeted 587 points on Thursday, pressured by heavy selling in banking and energy stocks amid weak global cues.

Investor sentiment also tanked after Chief Economic Adviser Krishnamurthy Subramanian virtually ruled out a stimulus package from the government.

The 30-share Sensex sank 587.44 points, or 1.59 per cent, to 36,472.93.

It hit an intra-day low of 36,391.35 and a high of 37,087.58.

The broader NSE Nifty ended 177.35 points, or 1.62 per cent, down at 10,741.35. During the day, it plunged to a low of 10,718.30 and touched a high of 10,908.25.

Yes Bank was the biggest laggard in the Sensex pack, plummeting 13.91 per cent, followed by Vedanta, Bajaj Finance and Tata Motors, which declined up to 7.76 per cent.