Indian equity benchmarks opened with steep losses dragged by heavyweights like Reliance Industries, Infosys, ICICI Bank and TCS amid weak global markets.
The S&P BSE Sensex fell 0.95 percent or 322 points to 33,713 and the NSE Nifty 50 Index dropped 0.97 percent or 99 points to 10,126.
An equities rout that wiped out this year’s gains for U.S. stocks spread to Asia on Thursday as concerns mounted that corporate profits and economic growth are peaking amid rising borrowing costs.
Back home, all 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Telecom Index’s 2.5 percent drop. IT, metal, capital goods and basic material gauges also fell over a percent each.
Mid- and small-cap shares fell in line with their larger peers as the S&P BSE MidCap and S&P BSE SmallCap Indices fell 1 percent each.
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