Indian stock markets plunge amid weak Asian cues

The BSE Sensex ended with a loss of 114 points at 28,221 on Wednesday. It opened at 28,426, touched an intra-day high of 28,478 and low of 28,189.

The NSE Nifty closed with a loss of 25 points at 8,743 on Wednesday. It opened at 8,806, hit an intra-day high of 8,807 and low of 8,731.

Weak Asian cues erased initial gains made by Indian shares in the morning session of trading. The Nifty claimed its crucial level of 8,800 driven by gains in realty, power, metal, consumer durable, capital goods, auto, and banks.

Asian Paints, HUL, SBI, Tata Motors and Maruti Suzuki were among the gainers, whereas ONGC, Bajaj Auto, M&M, Wipro and Infosys were seen losing sheen on BSE.

Active buying activity was seen in realty, metal, telecom, industrial, auto, FMCG and utilities sectors, while IT, teck, banking, finance, capital goods, pharma, energy and oil & gas showcased weakness on BSE. 

The rupee opened lower 16 paise at 66.62/$ against US Dollar Wednesday as against the previous close of 66.46/$.

Wall Street closed lower on Tuesday. The Dow Jones Industrial Average fell 85.40 points, or 0.5%, to close at 18,168.45.