Sensex and Nifty, the two key equity benchmarks, on Thursday declined sharply after a promising start in early trade amid high volatility, a day after the US Federal Reserve hiked interest rates by 75 bps.
The US Federal Reserve on Wednesday announced a 75-basis-point interest rate hike, its highest in more than a quarter of a century, to tame surging inflation.
At 1.30 pm, the BSE Sensex sank 974 points to 51,567, while the broader NSE Nifty was trading at 15,370, down 321 points.
On the 30-share BSE platform, all the constituents were in the red. Tata Steel was the top loser, down 4.29 per cent. The other prominent losers were Wipro, Airtel, TechM, Kotak Bank, NTPC, and others.
The broader markets were also in the red. The BSE Midcap and Smallcap indices were down around 2 per cent each.
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