Sensex tanks 550 points, closes in red below 36,000; Nifty ends the day below 10,900

Indian markets ended the day's trade in red on Wednesday as both Sensex and Nifty witnessing a downfall. While the BSE Sensex plunged 550.51 points to end at 35,975.63; Nifty slipped150.05 points to end the day at 10,858.25 

 

The BSE Sensex fell over 200 points and the NSE Nifty dropped below the 11,000-level in early trade after the rupee dropped to a new low amid sustained foreign fund outflows and surging crude oil prices.

 

The BSE 30-share barometer fell 231.08 points, or 0.63 per cent, to 36,295.06 after hitting a low of 36,325.15. The gauge had gained 299 points Monday after the RBI announced measures to shore up liquidity.

 

Investors were also cautious ahead of the three-day RBI policy review scheduled to begin Wednesday. 

 

Sectoral indices led by PSU, metal, infrastructure, power, oil and gas, auto, capital goods, realty and consumer durables stocks were trading in the negative terrain, falling by up to 1.43 per cent.

 

The NSE Nifty fell 93.55 points, or 0.85 per cent, to 10,914.75.

 

Top laggards include Maruti Suzuki, Asian Paint, TCS, Coal India, HDFC Bank, SBI and IndusInd Bank, falling up to 2.18 per cent.