Sensex, Nifty Off Day's Lows; IT Stocks Worst Hit
(RTTNews) - Indian shares tumbled on Wednesday, mirroring weak global cues as hotter-than-expected U.S. inflation numbers for August dented investor optimism over price decline and the pace of rate hikes.
The benchmark S&P/BSE Sensex was down 512 points, or 0.9 percent, at 60,058, after having hit a low of 59,417 earlier in the day.
The broader NSE Nifty index was down 141 points, or 0.8 percent, at 17,930.
Elevated oil prices and a rising dollar in international markets also spurred risk aversion.
Infosys slumped 4 percent after reports that it has warned its employees against dual employment or moonlighting
HCL Technologies lost 2.2 percent on reports it has laid off 350 employees working on a Microsoft news project.
Rivals TCS, Wipro and Tech Mahindra gave up 2-4 percent.
KEC International rallied 2 percent on news it has secured new orders of Rs. 1,108 crore across its various businesses.
Ambuja Cements jumped 3 percent on fund raising reports.
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