The Sensex and the Nifty plunged over 1.8 per cent at the end of the session on emergence of profit-booking in software exporting and pharma companies after the rupee fell to a record low.
The domestic unit slumped to 64.19 against the dollar at 3.49 p.m. local time as foreign investors continued to unwind their investments in Indian equity markets.
Marketmen said the selling pressure was more confined to companies such as software exporters and drug makers with their exposure to overseas markets.
Domestic sentiment was also dampened owing to weak global cues as investors awaited the release of minutes from Federal Reserve last policy meeting.
The 30-share BSE Sensex was down 340.13 points (1.86 per cent) at 17,905.91 and the 50-share NSE index Nifty was down 98.9 points (1.83 per cent) at 5,302.55.
Barring banking and consumer durables, all other BSE sectoral indices ended in the red.
Among them, realty, metal, oil & gas and FMCG and healthcare indices plunged the most by 3.63 per cent, 3.52 per cent, 3.34 per cent and 3.17 per cent, respectively. On the other hand, consumer durables index was up 0.74 per cent and banking 0.49 per cent.
Among 30-share Sensex, BHEL (+3.55 per cent), HDFC (+2.59 per cent), HDFC Bank (+1.84 per cent), ICICI Bank (+1.49 per cent) and SBI (+0.36 per cent) were the top five gainers, while the top five losers were Bharti Airtel (-5.87 per cent), Sterlite (-4.99 per cent), RIL (-4.58 per cent), Hindalco (-4.05 per cent) and ITC (-4.00 per cent).
European and Asian stocks were down as investors awaited the release of minutes from the Federal Reserve’s July meeting.
Stoxx 50 was down 3.88 points or 0.14 per cent at 2,784.10, FTSE 100 fell 34.88 points or 0.54 per cent to 6,418.58 and DAX was down 13.1 points or 0.16 per cent at 8,286.93.
Nikkei was up 27.95 points or 0.21 per cent at 13,424.30, Hang Seng shed 147.34 points or 0.67 per cent to 21,822.90 and S&P/ASX 200 was up 21.82 points or 0.43 per cent at 5,100.
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