Mumbai: Extending its losses to the second session, fairness benchmark Sensex slumped 471 factors on Wednesday, dragged by promoting in index majors ICICI Bank, HUL and Reliance Industries amid combined cues from international markets.
The 30-share BSE index ended 471.01 factors or 0.96 per cent decrease at 48,690.80.
Similarly, the broader NSE Nifty tumbled 154.25 factors or 1.04 per cent to 14,696.50.
IndusInd Bank was the highest loser within the Sensex pack, shedding over 3 per cent, adopted by HUL, ONGC, ICICI Bank, Axis Bank, Kotak Bank, M&M and Tech Mahindra.
On the opposite hand, Titan, Maruti, PowerGrid, SBI and NTPC had been among the many gainers.
“Indian indices extended its losses due to concerns over hike in global interest rates and bond yield due to rising commodity prices and inflationary pressure,” stated Vinod Nair, Head of Research at Geojit Financial Services.
All main indices closed within the unfavourable terrain together with metals whereas PSU banks and media shares managed to remain afloat. International commodity costs must stabilise to offer sustenance within the fairness market, he added.
Elsewhere in Asia, bourses in Shanghai and Hong Kong ended on a optimistic observe, whereas Tokyo and Seoul had been within the crimson.
Stock exchanges in Europe had been buying and selling on a combined observe in mid-session offers.
Meanwhile, worldwide oil benchmark Brent crude was buying and selling 0.50 per cent increased at USD 68.88 per barrel.
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