Benchmark BSE Sensex fell 566 points on Wednesday to settle below the 60,000 level, dragged lower by sharp selling in banking and IT stocks amid weak global trends.
The 30-part BSE barometer fell 566.09 points, or 0.94%, to 59,610.41. Over the day, it plunged 666.66 points, or 1.10%, to 59,509.84.
The broader NSE Nifty fell 149.75 points, or 0.83%, to settle at 17,807.65.
From the 30-stock block, the top laggards were HDFC Bank, HDFC, HCL Technologies, Tech Mahindra, Infosys, TCS, M&M, Kotak Mahindra Bank and Axis Bank.
Conversely, winners included NTPC, Tata Steel, Power Grid, Bharti Airtel, Nestle and Larsen & Toubro.
“Domestic equities moved in tandem with US markets, closing lower, fueled by investor expectations of a tighter rate hike from the Fed,” said Mitul Shah, head of research at Reliance Securities.
On Tuesday, the BSE Sensex fell 435.24 points, or 0.72%, to end at 60,176.50. Similarly, the NSE Nifty fell 96 points, or 0.53%, to 17,957.40.
Meanwhile, international oil benchmark Brent rose 0.93% to $107.6 a barrel.
Elsewhere in Asia, stock exchanges in Hong Kong, Tokyo and Seoul settled lower, while Shanghai was in the green. The US indices also closed in the red on Tuesday.
Overseas portfolio investors bought ₹374.89 crore of shares on Tuesday, according to stock market data.
