Key benchmark indices fell in the opening trades on Tuesday, amid global sell-off in equities with Sensex crashing over 1000 points and Nifty erasing over 330 points. Huge selling pressure erupted in the Indian equities market, as the two key indices BSE Nifty and Sensex opened around 3% lower.
Asian shares continue to register selling pressure following Wall Street’s biggest fall since 2011 as investors’ confidence in factors underpinning a bull-run in markets.
The BSE Sensex was trading at 33,635 down 1,221 points, while broader Nifty 50 index was ruling at 10,327 down 339 points. Both indices, however, recovered marginally as trade progressed.
The heavyweight shares such as HDFC, ICICI Bank, ITC, RIL, L&T, Tata Motors, Infosys, Maruti Suzuki, Axis Bank, State bank of India, Kotak Mahindra Bank, TCS, Yes Bank, IndusInd Bank and Mahindra and Mahindra contributed heavily in the Sensex declines.
Tata Motors shares fell 6.58% at Rs 370 after its consolidated net profit surged 988.6% to Rs 1214.60 cr, while Hero MotoCorp declined 2.98% at Rs 3,525.60 as the is scheduled to announce results today, 6 Feb 2018.
Meantime Indian rupee fell to a 7-week low against the US dollar on following sell-off in global and local equity markets. The rupee was currency trading at 64.36, down 0.46% from its previous close of 64.07.