Mumbai:Benchmark indices Sensex and Nifty tumbled more than 1 per cent on Wednesday amid retail inflation soaring to a 14-month high of 6.21 per cent in October and unabated foreign fund outflows. Muted quarterly earnings, selling in frontline stocks -- HDFC Bank, Reliance Industries -- along with weak trends in the US and Asian peers also hit markets' sentiment, traders said.
The BSE benchmark Sensex tanked 984.23 points or 1.25 per cent to settle at 77,690.95, extending its previous day's fall. During the day, it slumped 1,141.88 points or 1.45 per cent to 77,533.30. Registering its fifth day of decline, the NSE Nifty tumbled 324.40 points or 1.36 per cent to 23,559.05.
From the 30-share Sensex pack, Mahindra & Mahindra, Tata Steel, Adani Ports, JSW Steel, IndusInd Bank, Reliance Industries, HDFC Bank and Kotak Mahindra Bank were the biggest laggards. Tata Motors, NTPC, Hindustan Unilever, Asian Paints and Infosys were the gainers.