Bears return to Dalal Street

Mumbai, March 4

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Snapping its three-session winning run, the Sensex plunged by around 599 points to crack below the key 51,000-level on Thursday due to heavy selling in financial, energy and IT stocks amid a meltdown in global shares.

Asian and European markets tumbled as another rise in US bond yields fanned fears of higher inflation that may prompt central banks to raise interest rates.

Intra-day, the BSE barometer fell as much as 905 points before ending the session at 50,846.08, showing a decline of 598.57 points. Of 30 Sensex shares, 25 closed with losses.

The Nifty closed down by 164.85 points at 15,080.75 with 38 of its constituents ending in the red zone. — PTI