SENSEX SINKS 311 POINTS, NIFTY DROPS BELOW 10,700-MARK

MUMBAI: Equity benchmarks wilted under selling pressure for the eight straight session on Monday as risk appetite remained subdued amid sustained foreign fund outflows and geopolitical concerns. The 30-share BSE

Sensex tumbled 310.51 points, or 0.87% to finish at 35,498.44, while the broader NSE Nifty fell 83.45 points, or 0.78%, to 10,640.95. Consumer, banking, information technology, auto and pharma stocks bore the brunt of heavy selling. Banking shares weakened after Reserve Bank governor Shaktikanta Das said he will meet heads of public and private sector banks this week to discuss transmission of interest rate cuts to borrowers.