Equity indices buckled under selling pressure for the second straight session on Wednesday as risk appetite remained subdued amid a bearish trend overseas.
Profit-booking was seen in finance, IT and FMCG counters, while a depreciating rupee also weighed on investor sentiment, traders said.
The 30-share BSE Sensex slumped 400.34 points or 0.77 per cent to close at 51,703.83. The broader NSE Nifty tumbled 104.55 points or 0.68 per cent to 15,208.90.
Nestle India was the top loser in the Sensex pack, shedding 2.80 per cent, followed by Bajaj Finserv, Asian Paints, HDFC Bank, IndusInd Bank, Maruti, Dr Reddy’s and HDFC.
HDFC twins accounted for over half of the benchmark’s losses. On the other hand, SBI, PowerGrid, NTPC, Reliance Industries and Bajaj Auto were among the gainers, climbing up to 2.39 per cent. Global markets were on the backfoot amid rising US Treasury yields and concerns over frothy valuations.