Sensex Falls Over 450 Points On Weak Global Cues, Nifty Trades Below 17,850
Taking cues from global markets, Indian equity benchmarks opened lower on Wednesday. Asian stocks fell on fears of an aggressive monetary tightening by the US Federal Reserve to fight inflation. The focus was also on new Western sanctions against Russia over the invasion of Ukraine.
Trends in Nifty futures on the Singapore Exchange (SGX Nifty) also indicated an intraday opening for the domestic indices.
The 30-share BSE Sensex closed 473 points or 0.79 per cent lower at 59,704 in early trade, while the broader NSE Nifty ended 126 points or 0.70 per cent lower at 17,832.
Mid- and small-cap stocks were trading on a negative note as Nifty Midcap 100 was down 0.35 per cent and small-cap stocks fell 0.33 per cent.