Sensex drops 202 points; banks, Vodafone Idea bleed on AGR ruling

MUMBAI: The domestic stock market gyrated in a 500-point range on Friday on heavy losses in bank stocks, as Sensex pared gains after Supreme Court asked telecom companies to deposit their AGR dues by March 17. Banks are expected to take a major haircut if Vodafone Idea, which is lugging over Rs 1 lakh crore in debt, goes under, Reuters reported Rusmik Oza, Head of Fundamental Research at Kotak Securities as saying. In a volatile session, BSE Sensex closed 0.49 per cent or 202 points lower at 41,258, while NSE’s 50-share Nifty 0.50 per cent or 61.20 points lower at 12,113.45...