Market update: Sensex tumbles 338 pts, Nifty slips below 15K

Slipping below the 50,000 mark, the 30-share BSE index ended 337.78 points or 0.68 per cent lower at 49,564.86. 

Mumbai, May 20 (PTI): Equity benchmark Sensex tumbled 338 points on Thursday, dragged by losses in index majors HDFC Bank, Reliance Industries and ICICI Bank amid weak global cues. Slipping below the 50,000 mark, the 30-share BSE index ended 337.78 points or 0.68 per cent lower at 49,564.86. The broader NSE Nifty declined 124.10 points or 0.83 per cent to 14,906.05. ONGC was the top loser in the Sensex pack, shedding around 3 per cent, followed by Sun Pharma, PowerGrid, Axis Bank, HDFC Bank, Bharti Airtel and Kotak Bank. On the other hand, M&M, IndusInd Bank, Titan, L&T and Bajaj Finserv were among the gainers.