Axis Bank was the top laggard in the Sensex pack, falling 2.21%, followed by Tech Mahindra, M&M, Tata Steel, RIL, HDFC, Maruti and Infosys.
Axis Bank was the top loser in the Sensex pack, falling 2.21%, followed by Tech Mahindra, M&M, Tata Steel, RIL, HDFC, Maruti and Infosys.
Equity benchmark Sensex slipped over 250 points below the 61,000-mark in early trade on Thursday, tracking heavy losses in auto, IT and banking stocks amid a negative trend in global markets.
Traders said that apart from this, the weakening of the rupee against the dollar also affected the domestic stock markets.
The 30-share BSE index was trading 280.36 points or 0.46% lower at 60,753.19 in opening deals. Similarly, the broader NSE Nifty fell 87.35 points or 0.48% to 18,069.65.
Axis Bank was the top loser in the Sensex pack, falling 2.21%, followed by Tech Mahindra, M&M, Tata Steel, RIL, HDFC, Maruti and Infosys.
On the other hand, Dr Reddy’s, HUL, Bharti Airtel, PowerGrid and Sun Pharma were among the gainers.
On Wednesday, the Sensex closed 151.60 points or 0.25% lower at 61,033.55 in the previous session. The NSE Nifty ended 45.80 points or 0.25% lower at 18,157.
The rupee fell by 17 paise to 81.64 against the US dollar in early trade on Thursday.
Foreign institutional investors (FIIs) remained net buyers in the Indian capital market on Wednesday as they bought shares worth Rs 386.83 crore, according to exchange data.
International oil benchmark Brent crude was trading 0.06 per cent lower at $92.71 per barrel.
In Asian markets, shares in Tokyo, Shanghai, Seoul and Hong Kong were trading with significant losses.
Shares on Wall Street closed lower in the overnight session on Wednesday.