Sensex falls over 200 points in early trade; Nifty below 11,600
Mumbai: Domestic equity benchmark Sensex dropped over 200 points in early trade on Thursday led by losses in financial stocks after the US Federal Reserve highlighted the uncertainty surrounding economic recovery.
The 30-share BSE index was trading 216.76 points or 0.55 percent lower at 39,086.09; while the NSE Nifty fell 44 points or 0.38 percent to 11,560.55.
ICICI Bank was the top laggard in the Sensex pack, shedding over 1 percent, followed by HDFC Bank, PowerGrid, Bajaj Auto, Kotak Bank, Axis Bank, and L&T.
On the other hand, HCL Tech, Tech Mahindra, Asian Paints, ONGC, and Infosys were among the gainers.
In the previous session, Sensex jumped 258.50 points or 0.66 percent to close at 39,302.85, while Nifty rose 82.75 points or 0.72 percent to finish at 11,604.55.
Meanwhile, exchange data showed that foreign institutional investors bought equities worth Rs 264.66 crore on a net basis on Wednesday.
According to traders, domestic equities opened on a negative note tracking weak cues from global markets after the US Federal Reserve hinted at the key policy interest rate staying close to zero at least through 2023 without unveiling any additional stimulus plans.
Bourses in Shanghai, Hong Kong, Seoul, and Tokyo were trading with significant losses in midday deals.
Stock exchanges on Wall Street ended with a negative bias in overnight trade.
Meanwhile, global oil benchmark Brent crude was trading 0.90 percent lower at USD 41.84 per barrel.
