New Delhi: The equity index fell on Wednesday with BSE Sensex benchmarks falling more than 650 points dragged by it and financial stocks amid global cues from the global market.
Sensex BSE 30-Share down 656 points or 1.08 percent to close at 60,099; While the wider NSE settled 175 points or 0.96 percent lower at 17,938.
Infosys, Asia Cat, Hul, Bajaj Finance, TCS and Bank Box are the main losers in the sensex package falling as much as 2.77 percent.
While SBI, Tata Steel, Maruti and Axis Bank are the main enhancer up to 1.75 percent.
On the NSE platform, sub-index nifty, financial services and FMCG fell 2.13 percent.
Technology shares lead a decline when the US Treasury results reached a two-year high.
According to experts, the sale of global technology shares inhaled Asian stock markets on Wednesday, as investors were worried about inflation and preparing for more stringent US monetary policy.
“The hardening of the harvest has triggered a fear of a higher increase in the Federal Reserve interest rate, which has seeped into the Indian market and triggered consolidation after a sturdy run,” Aishvarya Dadheech, fund manager at Ambit Asset Management to the Reuters news agency.
Results and increases in higher US interest rates tend to make risk assets such as the less attractive market equity emerging, which leads to the flow of funds from the region.
Meanwhile, foreign investors remain clean sellers in the Indian equity market because they lowered shares worth 1,254.95 crore on Tuesday, according to the Securities Exchange data.
(With input from the agency)