Sensex tanks 1,247 points on spike in crude oil

Mumbai: Benchmark indices fell sharply on Thursday, with Sensex tumbling 1,247.71 points and the Nifty declining to 23,063, following a spike in crude oil prices and selling in blue-chip Reliance Industries and bank stocks.

The 30-share BSE Sensex tanked 1,247.71 points, or 1.67 per cent, to settle at 73,580.54. During the day, it plummeted 1,264.33 points, or 1.68 per cent, to 73,563.92.

The 50-share NSE Nifty dropped 383.70 points, or 1.64 per cent, to end at 23,063.10. Among the 30 Sensex firms, 29 ended lower. Bajaj Finance dropped 5.47 per cent, Axis Bank declined 4.67 per cent, Bajaj Finserv 4.06 per cent, InterGlobe Aviation 2.78 per cent, Trent 2.75 per cent, and Mahindra & Mahindra 2.31 per cent.

Brent crude, the global oil benchmark, jumped 2.36 per cent to USD 105.4 per barrel.