The S&P BSE Sensex plunged by more than 300 points while Nifty50 closed below 11600 levels on a closing basis. The final tally on D-Street – the S&P BSE Sensex plunged 334 points to close at 38,963 while the Nifty50 dropped 73 points to close at 11588. The biggest drag on both Sensex and Nifty was Infosys which plunged over 16 percent to mark its biggest single-day fall since April 2013. The stock is now trading at levels last seen around December 2018. The stock closed at Rs 643.30 on the BSE. As shares of Infosys plunged more than 16 percent, investors lost more than Rs 50,000 cr as market capitalisation fell from Rs 3,26,939 on October 18 to Rs 2,76,300 cr. The market is expected to remain volatile in the near term, and the trend will be dictated by the on-going earning season, the outcome of the state election, US-China trade deal, and development on the Brexit deal, they say. The Indian rupee on Tuesday closed higher for the four fourth consecutive session to hit a one-week high against the US dollar on the back of recent gains in domestic equity markets.