Sensex slumps over 1,100 pts in early trade; Nifty falls below 16,950
Mumbai(PTI): Equity benchmark Sensex tanked over 1,100 points or 2 per cent in opening trade on Thursday, tracking losses in index-majors Titan, Wipro and HDFC twins amid a weak trend in the Asian markets.
The US Federal Reserve's indication to raise interest rates soon and persistent foreign fund outflows weighed on market sentiment, traders said.
The BSE gauge was trading 1,155.61 points or 2 per cent lower at 56,702.54 in early trade. Likewise, the Nifty declined 329.15 points or 1.91 per cent to 16,948.80.
Titan was the top loser in the Sensex pack, shedding 4.06 per cent, followed by Wipro, Dr Reddy's, HDFC Bank, Tech Mahindra and Infosys.
On the other hand, Maruti and NTPC were the gainers. Equity, forex and bullion markets were closed on Wednesday on account of Republic Day.
On Tuesday, the 30-share BSE Sensex finished 366.64 points or 0.64 per cent higher at 57,858.15. Similarly, the broader NSE Nifty rose 128.85 points or 0.75 per cent to close at 17,277.95.
The US Fed on Wednesday indicated that it may raise interest rates in March to fight inflation. Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with deep losses in mid-session deals.
Stock exchanges in the US ended on a mixed note in the overnight session.
Meanwhile, international oil benchmark Brent crude rose 0.93 per cent to USD 89.12 per barrel.
Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 7,094.48 crore Tuesday, as per provisional data.
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Minor girl kidnapped and raped; main accused and two cafe owners held
Latur (PTI): A minor girl was allegedly kidnapped and raped by an 18-year-old man in Latur, leading to the arrest of the main accused and owners of two cafes where the crime occurred on December 4, police said on Saturday.
Police traced the girl within hours of registering the complaint. The accused, identified as Rihan Gulab Shaikh, was arrested based on the girl's complaint. Two others are owners of two cafes where the crime occurred, police said.
Police registered a case under various sections of the Bharatiya Nyay Sanhita (BNS), POCSO Act, and the Prevention of Atrocities Act, an official said.
