Mumbai: The Indian equity indices tumbled during early hours on Friday morning as the BSE Sensex fell over 1,450 points, while the Nifty 50 dived by 306 points or 2.72 per cent at 10,963.

The slump across the sectoral indices was led by the finance and banking stocks as the Reserve Bank of India on Thursday superseded the board of directors of Yes Bank and placed it under moratorium. Among stocks, YES Bank crashed by 29.89 per cent to Rs 25.80 per share after the RBI said it is superseding the board of troubled private sector lender with immediate effect.

Persistent fears of the coronavirus outbreak severely impacting global economy also weighed on the investor sentiments, analysts said.

At 9.36 a.m., the BSE Sensex trimmed some losses and was trading at 37,376.66, lower by 1,093.95 points or 2.84 per cent from the previous close of 38,470.61

Watch | Sensex plunges around 1300 points



So far, the index has touched an intra-day low of 37,011.09, falling by 1,459.52 points. It had opened at the intra-day high of 37,613.96.

The Nifty50 on the National Stock Exchange was trading at 10,938.75, lower by 330.25 or 2.93 per cent from its previous close.

(with inputs from agencies)