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Sensex, Nifty Tumble On US Fiscal Concerns
(RTTNews) - Indian shares were sharply lower on Thursday after Wall Street saw one of its most brutal selling sessions overnight in over a month on concerns about deteriorating U.S. fiscal outlook.
The benchmark 30-share BSE Sensex tumbled 800 points, or 1 percent, to 80,794 in early trade while the broader NSE Nifty index was down 265 points, or 1.1 percent, at 24,548.
ITC, Infosys, Hindustan Unilever, Mahindra & Mahindra, Nestle India, HCL Technologies, Tech Mahindra and Power Grid Corp lost 2-3 percent.
Grasim, ITC and Sun Pharma fell around 1 percent ahead of their earnings results due today.
InterGlobe Aviation, the parent company of budget carrier IndiGo, declined 1.4 percent amid concerns that the Indian government may not extend its leasing agreement with Turkish Airlines.
IRCON International dropped 1 percent on reporting a 14 percent fall in Q4 net profit.
Nalco rallied 3.3 percent after quarterly profit surged twofold.
IndusInd Bank rose nearly 2 percent despite posting a net loss of Rs. 2,236 crores in Q4.
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