Caution over future rate hikes by central banks drags Sensex down by 171 points to 61625, while Nifty crashed below 18350 mark. As metal remained solid to gain 1.7 per cent, media and FMCG sectors lost the most today. Hidalco and Tata Motors were among top performing firms, while Dr Reddy's and ITC were in the red.
Japan's Nikkei was in the red because of Asian markets hit by concern among investors, but Chinese indices gained positivity after support was announced for the property market. Apart from investor sentiment, SoftBank's loss also continued to weigh down on Japanese markets.
China's move to relax covid restrictions also provided a boost for Hang Seng, while European indices were in the green with mining stocks gaining from hints of a demand revival in China.
Indian indices slid down despite WPI easing to 8 per cent, while retail inflation is expected to fall below 7 per cent.
