Extending its losses to the second session, fairness benchmark Sensex slumped 471 factors on Wednesday, dragged by promoting in index majors ICICI Financial institution, 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.
Equally, the broader NSE Nifty tumbled 154.25 factors or 1.04 per cent to 14,696.50.
IndusInd Financial institution was the highest loser within the Sensex pack, shedding over 3 per cent, adopted by HUL, ONGC, ICICI Financial institution, Axis Financial institution, Kotak Financial institution, M&M and Tech Mahindra.
However, Titan, Maruti, PowerGrid, SBI and NTPC have been among the many gainers.
“Indian indices prolonged its losses because of issues over hike in international rates of interest and bond yield because of rising commodity costs and inflationary strain,” mentioned Vinod Nair, Head of Analysis at Geojit Monetary Companies.
All main indices closed within the damaging terrain together with metals whereas PSU banks and media shares managed to remain afloat. Worldwide 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 word, whereas Tokyo and Seoul have been within the pink.
Inventory exchanges in Europe have been buying and selling on a combined word in mid-session offers.
In the meantime, worldwide oil benchmark Brent crude was buying and selling 0.50 per cent increased at USD 68.88 per barrel.