Sensex drops 100 points; rupee depreciates nine paise to 73.55 against US dollar
Equity benchmark Sensex dropped over 100 points in opening trade on Wednesday, tracking losses in financial stocks amid weak cues from global markets.
The 30-share index was trading 100.60 points or 0.25 per cent lower at 39,473.97, and the NSE Nifty fell 23.45 points or 0.20 per cent to 11,638.95.
Bajaj Finance was the top loser in the Sensex pack, shedding around 5 per cent, followed by Bajaj Finserv, IndusIand Bank, ICICI Bank, Kotak Bank and Axis Bank.
On the other hand, ONGC, Maruti, Reliance Industries, HUL, and UltraTech Cement were trading on a positive note.
In the previous session, Sensex zoomed 600.87 points or 1.54 per cent to close at 39,574.57, while Nifty climbed 159.05 points or 1.38 per cent to end at 11,662.40.
Exchange data showed that foreign institutional investors bought equities worth Rs 1,101.76 crore on a net basis on Tuesday.
International oil benchmark Brent crude was trading 1.66 per cent lower at USD 41.94 per barrel.
Meanwhile, rupee depreciated nine paise to 73.55 against the US dollar in opening trade.