Mumbai Sep 21 (IANS) High volatility following a likely credit crisis in the infrastructure lending and development sector dragged the market in the red with the S&P BSE Sensex swinging in around 1 500-point range on Friday.
A plunge of over 1 100 points was witnessed on the BSE Sensex around 1 p.m only to recover from the day s low within few minutes. Similarly the NSE Nifty50 also recovered after dropping below the 11 000-mark.
The sudden sell-off took place across the board with banking and financial stocks losing the most.
At 3.30 p.m the wider NSE Nifty50 provisionally closed at 11 143.10 points lower 91.25 points or 0.81 per cent from the previous close of 11 234.35 points.
The BSE Sensex which had opened at 37 278.89 points provisionally closed at 36 841.60 points lower 279.62 points or 0.75 per cent from the previous close of 37 121.22 points.
The Sensex touched an intra-day high of 37 489.24 points and a low of 35 993.64 points.
The fourth consecutive session s slide was triggered also by other factors including lower possibility of the Reserve Bank of India cutting its key lending rates analysts said.

--IANS ravi-rv-rrb/nir