BSE Sensex and NSE’s Nifty 50 opened with heavy losses amid selloff in global equities.30-share Sensex was down as much as 634 points at 35,341.68 while the 50-share Nifty tumbled over 150 points to 10,663.65.
Asian stocks and currencies sank after a spike in US Treasury yields tested investors’ nerves for equity valuations as Federal Reserve monetary tightening. Nikkei225 was trading 0.46 per cent down at 23,999 while Hang Seng came down over 1.50 per cent at 26,628.64.
BSE Sensex traded 646.98 points, or 1.79%, lower at 35,328.65, while the Nifty 50 fell 198.15 points, or 1.82%, to 10,660.10.
50-share NSE Nifty also lost 1.30 per cent within the first 15 minutes of trading and may maintain 10,700-levels.
In intraday, the Sensex fell 659 points and the Nifty 50 plunged 202.3 points.The BSE MidCap and SmallCap indices fell 1.28% and 1.48%, respectively. All the sectoral indices on BSE, except capital goods, traded lower with energy falling most at 3.46%. IT and teck fell over 2%.
A falling rupee weighed heavy on investor sentiment. The local currency plunged to its fresh record low of 73.77 against the dollar early Thursday.
Shares of auto companies traded lower today, with the S&P BSE Auto Index losing 1.48%. Eicher Motors was down 4.56%, Hero MotoCorp 2.84%, Apollo Tyre 1.89%, Bajaj Auto 1.50%, Maruti Suzuki 1.34% and Mahindra and Mahidra 1.5%.