Sensex tanks over 300 points, check top gainers
India Today
Top gainers share: The Nifty Metal Index added 1.21 per cent, with aluminium and copper producer Hindalco Industries being the top Nifty 50 percentage gainer.
The Sensex and Nifty ended in the red as financial and automobile stocks drove both indexes lower on Wednesday as investors weighed higher oil prices in the absence of any major domestic trigger.
The blue chip NSE Nifty 50 index ended down 0.40 per cent or 69.85 points at 17,245.65, while the benchmark S&P BSE Sensex fell 0.53 per cent or 304.48 points to 57,684.82.
A rally in information technology stocks and Reliance Industries had helped both indexes gain more than 1 per cent in the previous session, with the early momentum helping them open higher on Wednesday only to give up the gains and settle lower by mid-day.
Higher crude prices have kept domestic investors on edge as they make the world's third largest importer and consumer of oil susceptible to high inflation, while also pushing up the country's trade deficit and hurting the rupee.
The partially convertible Indian rupee weakened after opening stronger on Wednesday.
State-controlled fuel retailers raised petrol and diesel pump prices for the first time since November, two dealers told Reuters late on Monday, with top retailer Indian Oil Corp IOC.NS increasing prices for a second straight day on Tuesday.
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