Sensex Tumbles 1052 Points as US Fed Signals Policy Rate Hike

The Indian equities markets key indices tumbled on Thursday with Sensex losing 1052 points in the morning trade after the US Federal Reserve gave signal on interest rate hike and reaffirmed halting its bond buying programme.

The benchmark Sensex was trading at 56,805.17 points at around 11 am, which is 1052.98 points or 1.82 per cent lower from its previous day's close at 57,858.15 points.

Earlier the Sensex opened in the red at 57,317.38 points and tumbled to a low of 56,674.51 points in the morning trade.

The broader Nifty 50 of the National Stock Exchange tumbled 1.89 per cent or 327.25 points to 16,950.70 points against its previous session's close at 17,277.95 points.

The Nifty opened in the red at 17,062.00 points and slumped to a low of 16,927.85 points in the morning trade.

There was across the board selling pressure. Only one of the 30 scrips that are part of the Sensex was trading in the positive. Axis Bank rose 0.89 per cent to Rs 758.65.

There was heavy selling pressure in IT stocks. HCL Technologies tumbled 4.11 per cent to Rs 1078.60. Wipro slumped 3.27 per cent to Rs 544.45; Tech Mahindra dipped 2.55 per cent to Rs 1462.25; TCS slumped 2.49 per cent to Rs 3676.40 and Infosys was trading 2.10 per cent down at Rs 1685.85.

Titan 4.26 per cent down at Rs 2278; HDFC Bank 2.86 per cent down at Rs 1444.70; Bajaj Finserv 2.71 per cent down at Rs 15105.10; HDFC 2.59 per cent down at Rs 2462.75; Bajaj Finance 2.33 per cent down at Rs 6798.75 and Nestle India 2.12 per cent down at Rs 18397.35 were among the major Sensex losers.