The Sen Times

Sensex tanks 778 points, Nifty closes at 5-month low amid surging oil prices, rate hike fears

Mumbai, Sep 15 (PTI) Benchmark Sensex tanked 778 points while the broader stock index Nifty closed at a five-month low on Tuesday amid surging oil prices, geopolitical tensions and weak trends in global markets. The 30-share BSE Sensex tumbled 777.94 points, or 1.04 per cent, to settle at a three-month low of 74,003.82, dragged by losses in blue-chip banking, auto and oil & gas shares. The index opened higher but lost steam in late-morning deals as selling gathered pace. The barometer later tanked 787.73 points, or 1.05 per cent, to a days low of 73,994.03. The 50-share NSE Nifty dropped