Sensex tanks on weak global cues; Nifty below 11,550

Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with significant losses.

The BSE Sensex tumbled 323 points on Thursday, weighed by losses in index heavyweights Reliance Industries and HDFC twins amid negative cues from global markets after the US Fed highlighted the uncertainty surrounding economic recovery.

The 30-share BSE index ended 323 points or 0.82% lower at 38,979.85. The NSE Nifty fell 88.45 points or 0.76% to 11,516.10.

Bajaj Finserv was the top laggard in the Sensex pack, shedding over 2%, followed by PowerGrid, L&T, ICICI Bank, Bajaj Finance, TCS and Sun Pharma.

On the other hand, HCL Tech, Infosys and Maruti finished higher.

According to traders, domestic equities traded on a negative note tracking weak cues from global markets after the U.S. Federal Reserve hinted at key policy interest rate staying close to zero at least through 2023 without unveiling any additional stimulus plans.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with significant losses.

Stock exchanges in Europe too opened on a negative note.

Meanwhile, global oil benchmark Brent crude was trading 0.26% lower at $42.11 per barrel.

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