Sensex slumps over 400 pts in early trade; Nifty slips below 16,500

Equity benchmark Sensex tanked over 400 points in early trade on Friday, tracking losses in index majors Reliance Industries, HDFC Bank and ICICI Bank amid a selloff in other Asian equities. The 30-share index was trading 445.02 points or 0.80 per cent lower at 55,184.47, while the broader NSE Nifty slumped 147.10 points or 0.89 per cent to 16,421.75.

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