Equity benchmark Sensex tumbled over 400 points in early trade on January 14, tracking heavy selling pressure at the counters amid a negative trend in global markets.
The BSE index was trading 434.59 points or 0.71% lower at 60,800.71 in early trade. Similarly, Nifty closed 111.10 points or 0.61% lower at 18,146.70.
HCL Tech fell 2.49% in the Sensex pack, followed by Asian Paints, HDFC, Axis Bank, Wipro, HUL and Tech Mahindra.
On the other hand, Reliance Industries, Maruti, Titan and Bajaj Finance were the only gainers in the pack.
In the previous session, the 30-share BSE Sensex had closed 85.26 points or 0.14% higher at 61,235.30. Similarly, the NSE Nifty rose 45.45 points or 0.25% to 18,257.80.
Elsewhere in Asia, shares in Shanghai, Hong Kong, Tokyo and Seoul were trading with heavy losses in mid-session deals.
HDFC Securities head of retail research Deepak Jasani said Asian stocks fell on Friday after Federal Reserve officials indicated they would aggressively fight inflation and the Nasdaq 100 fell to its lowest level since October.
“U.S. shares closed Jan. 13 as technology stocks halted a rebound, breaking a three-day winning streak for the Nasdaq Composite,” he said.
Stock exchanges in the US ended on a negative note in the overnight session.
Meanwhile, international oil benchmark Brent crude fell 0.15% to $84.34 a barrel.
Foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth ₹1,390.85 crore on January 13, according to stock exchange data.
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