MARKET LIVE: Sensex sheds 300pts, Nifty50 below 17,650; HDFC, Wipro slip 1%


Domestic opened lower on Thursday after the US Federal Reserve’s 75 basis point rate hike sent global into a tailspin. Key indices Nifty50 dropped 100 points to trade below 17,650 levels and the S&P Sensex declined over 450 points to trade at 58,996 levels.

Weakness ensued the broader as well, as Nifty MidCap and SmallCap indices slipped up to 0.1 per cent.

Barring Nifty FMCG and Nifty Media, which opened with marginal gains, most sectors nosedived in negative territory. Nifty IT and Nifty Bank indices declined the most – up to 1 per cent.

While ITC, HUL, Nestle India attempted to trim losses for the benchmark indices; Bajaj Finserv, Tech Mahindra, Wipro, HDFC contributed to the sharp cuts.

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