Sensex and Nifty fall 1% due to global uncertainty, expected corporate earnings reports
The biggest loser on the Sensex was Vedanta, and on the Nifty was Eicher Motors.
Indian indices slumped on Wednesday, ahead of expected corporate earnings reports coming in next week, and uncertainty over global markets, Mint reported.
The BSE Sensex closed 363.05 points down at 35,891.52, after having fallen over 500 points in morning trade. The National Stock Exchange Nifty was 117.60 points down at 10,792.50.
The biggest loser on the Sensex was Vedanta, followed by Mahindra & Mahindra, Tata Steel, Tata Motors and Hero Motocorp. On the Nifty, the stocks which declined the most were Eicher Motors, JSW Steel, Tata Steel, Vedanta and Mahindra & Mahindra.
The top gainers on both indices were Sun Pharmaceuticals, Tata Consultancy Services, Infosys and Asian Paints.
All other major Asian markets also fell sharply on Wednesday. The Hong Kong Hang Seng closed over 715 points down, the Australian market 83 points down, the Shanghai index 28 points down, the Taiwan TSEC 50 Index 173 points lower, and Japan’s Nikkei 225 over 62 points lower.
The Indian rupee lost 55 paise to trade at exactly 70 to a United States dollar at 3.41 pm.