Mumbai: Equity benchmark Sensex tanked 334 factors on Wednesday, monitoring heavy losses in index heavyweights Reliance Industries, ICICI Bank and L&T amid a weak pattern in world markets.
The 30-share BSE index ended 333.93 factors or 0.64 per cent decrease at 51,941.64. Similarly, the broader NSE Nifty slumped 104.75 factors or 0.67 per cent to fifteen,635.35.
L&T was the highest loser within the Sensex pack, shedding round 2 per cent, adopted by Reliance Industries, Bajaj Finserv, IndusInd Bank, SBI, Maruti, Axis Bank and Bajaj Auto.
On the opposite hand, PowerGrid, NTPC, Titan, HCL Tech and Asian Paints have been among the many gainers.
“Domestic equities fell sharply as selling pressure in financials, auto and RIL dragged indices down,” mentioned Binod Modi, Head – Strategy at Reliance Securities.
This was the steepest correction after May 12, he mentioned, including that every one key sectoral indices witnessed promoting strain as traders most well-liked to e book some quantity of revenue forward of essential CPI knowledge within the US.
Further, Asian markets additionally traded weak as we speak primarily reacting on higher-than-expected bounce in China’s producer value index at 9 per cent for May.
Elsewhere in Asia, bourses in Seoul, Tokyo and Hong Kong closed within the crimson, whereas Shanghai ended with features.
Equities in Europe have been additionally buying and selling on a destructive be aware in mid-session offers.
International oil benchmark Brent crude was buying and selling 0.36 per cent greater at USD 72.48 per barrel.
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