Benchmark equity indices tumbled in early trade on Wednesday due to elevated oil prices, weak global market trends and renewed fears of restart of military operations if Iran failed to reach a peace deal.
The 30-share BSE Sensex tanked 517.11 points to 74,667.51 in early trade. The 50-share NSE Nifty dropped 152.45 points to 23,475.80.
From the 30-Sensex firms, Tata Steel, Bharat Electronics, Mahindra & Mahindra, Maruti, Eternal and UltraTech Cement were among the major laggards.
Infosys, Tata Consultancy Services, Reliance Industries and Tech Mahindra were the winners.
Brent crude, the global oil benchmark, traded at USD 110.8 per barrel level.
In Asian markets, South Korea’s benchmark Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index quoted lower.
US markets ended lower on Tuesday.
