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Equity benchmark indices plummeted in early trade on Wednesday and Sensex slumped more than 675 points tracking negative cues in the global market as higher than expected inflation numbers in the US hit investor sentiments.
The broader 50-share Nifty tumbled 187.85 points or 0.86 per cent to 21,555.40 points while the 30-share Sensex crashed 675.79 points or 0.94 per cent to 70,879.40 points. The latest inflation data from the US has upended expectations of when the Federal Reserve might start slashing interest rates.
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As many as 27 scrips in the Sensex index declined. Infosys, Tech Mahindra, Wipro, HDFC Bank and TCS were among the major losers in the early trade. In the Nifty pack, 44 stocks were in the red.
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