Indian markets decline over 1% due to sell-off in oil and metal stocks
The rupee ended at 70.90 against the dollar, depreciating 44 paise.
Indian markets declined sharply on Thursday, dragged by oil and metal stocks and negative cues from global markets. The BSE Sensex dropped 572.28 points, or 1.59%, to close at 35,312.13 and the NSE Nifty 50 ended 181.75 points (1.69%) lower at 10,601.15.
The rupee ended at 70.90 against the dollar compared to Wednesday’s close of 70.46.
The top losers on the Sensex were Maruti Suzuki, Yes Bank, Tata Motors, Adani Ports and Reliance. On the Nifty, the stocks of Indiabulls Housing Finance, Maruti Suzuki Tech, Mahindra, Bajaj Finserv and Tata Motors declined the most.
Sun Pharmaceuticals was the biggest gainer on both indices.
Some other major Asian markets also suffered heavy losses on Thursday. Following cues from Wall Street, Japan’s Nikkei dropped 1.91%, China’s Shanghai Composite declined 1.68%, South Korea’s Kospi 1.55% and Hong Kong’s Hang Seng 2.47%.
