Mumbai, Aug 2 (Reporter) India’s benchmark indices – BSE Sensex and Nifty 50, both plunged over one per cent each due to sell off in every counter amid weak global cues. The BSE Sensex dropped 885.60 points to close at 80,981.95 following a global selloff overnight. The National Stock Exchange (NSE) Nifty slipped 293.20 points at 24,717.70. The volatility index India Vix jumped nearly 11% to 14.32 indicating nervousness in the market. Right from the word go the market moved downward with selling across the board. According to sources the investors lost more than 4 lakh crore of market capitalization. Foreign Institutional Investors (FIIs) had bought equities worth Rs 2089 crore while the Domestic Institutional Investors (DIIs) had sold Rs 337 worth equities in the last trading session, as per data available. Sources said that a number of factors including weak global cues, geo political situation, valuation concerns and not so impressive Q1 results were responsible for the fall in the market. With yesterday all-time high, the BSE Sensex opened on a weak note at 81,158.99, fell 709 points. During the day it tanked 1059 points to 80,868, days low, before closing at 80,981.95, slumping 88.60 points from its previous close. Stocks that dragged the market were Realty by 3.56 per cent, Metal by 3 per cent, Auto by 2.97 per cent and Commodities by 1.83 per cent. The Mid Cap and Small Cap indices also down 1.19 per cent and 0.58 per cent respectively. The losers were Maruti Suzuki by 4.94 per cent to Rs 12690, Tata Motors by 4.42 per cent to Rs 1094, JSW Steel by 3.92 per cent to Rs 897.45, L& T by 3.09 per cent to Rs 3659.55 and JSW Steel by 2.85 per cent to Rs 158.40. The gainers were HDFC Bank by 1.10 per cent to Rs 1658.50, Sun Pharma by 0.60 per cent to Rs 1726.20, Nestle India Ltd by 0.48 per cent to Rs 2996...////...