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MARKET LIVE: Sensex tumbles 1,700 pts, Nifty below 14,600; India VIX up 24%

Read more at www.business-standard.com

LIVE market updates: The bears were firmly in control of the Indian on Friday as the benchmark indices dropped over 2 per cent in late morning deals. Volatility index, India VIX, meanwhile shot up 24 per cent.

The S&P tumbled 1,700 points and gave up 50,000 to hover around 49,360-mark. The index, meanwhile, fell below the 14,600 level. ICICI Bank, IndusInd Bank, and Axis Bank fell 3 per cent each and were the top 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 MidCap and SmallCap indices were trading 0.5 per cent and 0.3 per cent lower, respectively.

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