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On the BSE, bank, power and realty indices shed 2 percent each and information technology, capital goods, healthcare and oil gas indices fell 1-1.7 percent.
All sectors are trading in the red with financials taking the biggest hit. Nifty PSU Bank tanked over 3 percent and Nifty Bank fell over 2 percent
Stocks that were in focus include names like Maruti Suzuki which rallied more than 3% post Q3 results, Tata Motors which gained more than 3% ahead of results on Wednesday, and TVS Motor Company which closed flat.
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.4% to a seven-month high, with South Korean shares gaining 1.3% as trading resumed after the Lunar New Year holidays.
The BSE midcap and smallcap indices shed 0.3-0.4 percent.
Investors are all but certain the Federal Reserve will implement a bite-sized interest rate hike next week even as the U.S. central bank remains committed to taming the hottest inflationary cycle in decades.
HUL, Sun Pharma, Tech Mahindra, Eicher Motors and UPL were among the biggest Nifty gainers. The losers included UltraTech Cement, Grasim Industries, NTPC, JSW Steel and Tata Steel
HUL, Sun Pharma, Tech Mahindra, Eicher Motors and UPL were among the biggest Nifty gainers. The losers included UltraTech Cement, Grasim Industries, NTPC, JSW Steel and Tata Steel