LIVE market updates: The Indian markets dropped nearly 2 per cent in Friday’s morning deals, tracking similar feeble trend in the global markets amid contnued sell-off in bond markets. Volatility index, India VIX, meanwhile shot up 11 per cent.
The S&P BSE Sensex tumbled 1,000 points and gave up 50,000 to hover around 49,980-mark. The Nifty50 index, meanwhile, fell below the 14,850 level. ICICI Bank, IndusInd Bank, and Axis Bank fell 3 per cent each and were the top Sensex laggards.
The Nifty sectoral indices were painted red, with the Nifty Bank index, down over 2 per cent, bleeding the most.
The damage was relatively contained in the broader markets, where the S&P BSE MidCap and SmallCap indices were trading 0.5 per cent and 0.3 per cent lower, respectively.