Mumbai, India (BBN) – Domestic shares dropped for a third straight session on Wednesday as banking and automobile shares fell, while regional markets were trading lower tracking overnight losses on Wall Street on doubts over US President Donald Trump’s economic policies.
At 11:30am, the 30-share BSE index Sensex was down 236.50 points or 0.8 per cent at 29,248.95 and the 50-share NSE index Nifty was down 76.15 points or 0.83 per cent at 9,045.35, reports The Hindu Business Line.
Among BSE sectoral indices, consumer durables index fell the most by 1.6 per cent, followed by metal 1.45 per cent, auto 1.24 per cent and capital goods 1.02 per cent, while only IT index was up 0.1 per cent.
Top five Sensex losers were Bharti Airtel (-2.75 per cent), Tata Motors (-1.67 per cent), M&M (-1.49 per cent), ICICI Bank (-1.47 per cent) and HDFC (-1.31 per cent), while the major gainers were Axis Bank (+1.02 per cent), Dr Reddy’s (+0.35 per cent), Cipla (+0.21 per cent), Infosys (+0.2 per cent) and Wipro (+0.08 per cent).
The 30-share Sensex fell 221.71 points or 0.75 per cent, to 29,263.74 with 25 of its constituents trading n the negative zone. The barometer had lost 163.54 points in the previous two sessions.
The NSE Nifty plunged 80.40 points or 0.88 per cent to 9,041.10.
Asian stocks posted their biggest drop in two weeks on Wednesday as growing doubts about Donald Trump’s economic growth agenda prompted investors to dump risky assets and to rush to safe havens such as gold and government bonds.
Equity markets across the region were a sea of red in opening trades and the Australian dollar nursed heavy losses as funds took profits into a two-week long rally.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3 per cent in early trade, its biggest intraday percentage fall since March 9.
In the previous session, it hit its highest level since June 2015.