Market update: Sensex, Nifty rangebound

The S&P BSE Sensex plunged as much as 72 points in trade following muted trend seen in other Asian markets. The fall in the index was led by losses in ITC, HDFC Bank, Tata Motors and L&T. Tracking the momentum, the 50-share Nifty index also came under some bit of pressure but was trading above its crucial psychological level of 7700.