MUMBAI: Benchmark indices Sensex and Nifty erased early gains to close sharply lower on Thursday, dragged by selling pressure in heavyweights like Infosys, Reliance Industries, and HDFC Bank amid mixed global cues.
The BSE Sensex plunged 1,190.34 points to end at 79,043.74, after sliding as much as 1,315.16 points to 78,918.92 during the session. The NSE Nifty also dropped 360.75 points to close at 23,914.15.
Domestic markets saw a sharp correction after a strong start to the week.
Overnight losses on Wall Street, driven by renewed concerns about rate cuts and geopolitical tensions, triggered selling in heavyweight IT and consumer discretionary stocks.
Losers
Among Sensex constituents, Mahindra & Mahindra, Infosys, HCL Technologies, Adani Ports, Bajaj Finance, Tech Mahindra, Titan, Tata Consultancy Services, Reliance Industries, and Power Grid led the declines. State Bank of India was the only stock to close in the green.
In Asia, Seoul and Tokyo markets ended higher, while Shanghai and Hong Kong posted losses. European stocks were trading higher during the session, while US markets closed lower on Wednesday, weighed by tech sector losses.
Brent gains
On the commodities front, Brent crude gained 0.49 per cent to $73.18 per barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs7.78 crore on Wednesday, as per exchange data.
On the previous trading day, Sensex had gained 230.02 points to close at 80,234.08, while Nifty rose 80.40 points to settle at 24,274.90.
