Stock Market Updates: Sensex Sinks 600 pts, Nifty Below 21,600; Wipro, Infy Down 2% Each – News18

Market Today: Equity benchmark indices took a sharp plunge at Wednesday’s open tracking a global market selloff following hotter-than-expected US inflation data that pushed Fed rate cut hopes further back to the second half of 2024. The BSE Sensex fell 600 points to 70,899 and the NSE Nifty50 slipped 150 points to 21,594.

Wipro, Infosys, IndusInd Bank, HCLTech, Tech M, and Titan took the sharpest fall on the Sensex, while Eicher was the additional Nifty loser.

On the flip side, Reliance, BPCL, Adani Enterprises, and Adani Ports held gains on the frontline indices.

The BSE MidCap and SmallCap indices also declined 0.7-1 per cent.

Global Cues

Tokyo stocks opened lower on Wednesday following falls on Wall Street after sticky US inflation data dampened hopes for quick interest rate cuts by the Federal Reserve.

Wall Street’s main indexes tumbled on Tuesday after a higher-than-expected consumer inflation reading pushed back market expectations of imminent interest rate cuts, driving US Treasury yields higher.