The stock markets took a heavy plunge in opening trades on Wednesday amid weak global cues.
In the opening deals, Sensex fell 324 points to 27,553 and Nifty declined 103 points to 8,524. State Bank of India, Adani Ports, Bank of Baroda, Yes Bank, Tata Steel, Hindalco, ONGC and ICICI Bank were among the laggards in Nifty.
Selling pressure was visible across the board. Banking, oil & gas, pharma, metal, capital goods, auto and FMCG indices declined over a per cent each.
Asian shares stumbled and the U.S. dollar was on the defensive on Wednesday as signs that Republican U.S. presidential candidate Donald Trump could be closing the gap with his Democratic rival Hillary Clinton spooked investors.
Anxiety in markets has deepened over a possible Trump victory given uncertainty on the Republican candidate's stance on several issues including foreign policy, trade relations and immigrants, while Clinton is viewed as a candidate of the status quo.