Market Closing: Sensex falls 323-pts; Infosys, RIL top drags

The benchmark Sensex of the Bombay Stock tumbled over 323 points after an intense last-hour sell-off on Wednesday, triggered by losses mainly in index heavyweights Infosys, Reliance Industries and HDFC.  After trading in the positive trajectory during intraday session, the BSE Sensex settled 323.34 points or 0.55 percent lower at 58,340.99,  marking its fifth decline in the last six days. Likewise, the Nifty of the National Stock Exchange fell 88.30 points or 0.5 percent to end at 17,415.05.

Tata Consumer Products, Eicher Motors, Infosys, Maruti Suzuki and Grasim Industries were among major laggards on the Nifty.  On the other hand Gainers included ONGC, Adani Ports, Coal India, Kotak Mahindra Bank and Bharat Petroleum Corp (BPCL) .

Among sectors, auto, FMCG and IT indices declined 1 percent each, while buying was seen in the oil & gas and banking stocks. BSE midcap index fell 0.5 percent, while smallcap index added 0.4 percent. Of the Sensex constituents, 22 shares closed in the negative terrain.

In other parts of Asia, stock markets closed with modest to large losses, mirroring a rise in US bond yields and volatility in global crude oil prices in the aftermath of US and other governments' price-cooling initiatives.

Meanwhile, Foreign institutional investors continued to offload equities on Tuesday, selling shares worth Rs. 4,477.06 crore on a net basis.

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