Sensex slips over 550 points, Nifty ends around 17,800; Paytm share rises 5% on Q4 business update; more

Global stock markets tumbled after US Fed hinted at a faster reduction of its balance sheet while the benchmark BSE Sensex slipped over 550 points as Nifty ended around 17,800-level.

Sensex tumbled 566 points to close below the 60,000-level, extending its losses for a second day due to profit taking in banking and IT stocks amid a fall in global stocks.

The 30-share BSE barometer tanked 566.09 points or 0.94 per cent to settle at 59,610.41 as 20 of its constituents closed in red. During the day, it plunged 666.66 points or 1.10 per cent to 59,509.84.