Market News Today: Sensex toppled more than five per cent by over 1,000 points on Thursday as the domestic market came under pressure due to selloff in the IT and telecom stocks amid a sudden spike in cases of coronavirus in Europe that have hit global equities. Also Read - Sensex Sheds Over 150 Points in Early Trade; Nifty Below 11,900

While Sensex closed at 39,728.41, down by 1066.33 points, Nifty tanked 290.70 points to 11,680.35. It opened at the day’s high of 41,048.05 and a low of 40,297.34 points. Also Read - Sensex Ends 127 Points Higher; Nifty Reclaims 11,900-Level

Along with weak cues from the global markets on the back of the fading hopes of further stimulus in the US, profit booking also pulled the IT stocks lower. Also Read - Sensex Jumps Over 200 Points in Early Trade; Nifty Tops 11,950

Notably, HCL Tech, Tech Mahindra, Bharti Airtel, Bajaj Finance and Infosys, trading between 2.60 per cent and 3.76 per cent lower, were the worst hit among 32 laggards in the Nifty basket of 50 shares.

This comes a day after Infosys announced 100 per cent variable pay from January next year.