MARKETS: Sensex drops 950 pts; Nifty tests 17,600 on broad-based selling

LIVE market updates: The Indian benchmark indices extended the losses and trading at day’s low with Nifty below 17,750. The Sensex was down over 600 points at 59,492. The Nifty was down 150 points, just above the 17,700-mark. Coal India, Power Grid, NTPC, IOC and BPCL were the top gainers, while HCL Tech, Infosys, Wipro, Bajaj Finance were the laggards. 

The broader indices are also marginlly in red, with both the BSE Midcap and Smallcap indices down 0.7 per cent. The overall breadth too favoured the declines, with 1,341 advancing shares versus 1,778 declining stocks on the BSE.