Sensex cracks 377 pts; Nifty dives below 10,700

Mumbai, Jan 3 Benchmark Sensex plummeted more than 377 points Thursday, tracking lacklustre global cues amid concerns over the fiscal impact of the proposed bundle to charm farmers ahead of the general elections.

The 30-share BSE index cracked 377.81 points, or 1.05 percent, to end at 35,513.71.

Essentially, the broader NSE Nifty dove 120.25 points, or 1.11 percent, to settle at 10,672.25.

Asian and European equities tripped following a sudden auction on Wall Street after Apple cut its revenue forecast for the first time in nearly 12 years.

Global investor sentiment also turned choppy after the White House meeting between US President Donald Trump and best Congressional pioneers on settling the progressing incomplete government shutdown finished in a stalemate Wednesday.

The greatest losers in the Sensex pack were Vedanta, M&M, ONGC, Tata Steel, L&T, HDFC, NTPC and Axis Bank, falling up to 3.04 percent.

Among the gainers were HCL Tech, Bajaj Auto, HUL and Asian Paints, ascending to 0.50 percent.

Sectorally, auto, pharma and metal indices took the worst hit, falling over 2 per cent.

Trading mood was subdued after reports said the administration was mulling over direct exchanges worth Rs 4,000 a section of land for each season for ranchers, among different motivating forces, which will probably have a significant money related ramifications on the exchequer.

Investors also stayed on the sidelines ahead of the corporate earnings scheduled to begin next week, traders stated, including that heavy selling by foreign as well as domestic funds weighed on local equities.

On a net premise, foreign portfolio investors (FPIs) sold investors worth Rs 621.06 crore Wednesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 226.18 crore, temporary information accessible with BSE appeared.

Then, the rupee was trading marginally weaker against the US dollar at 70.26.

Brent rough futures dropped 0.15 percent to USD 54.83 per barrel.

Elsewhere else in Asia, Korea's Kospi finished 0.81 percent lower, while Hong Kong's Hang Seng fell 0.26 percent and Shanghai Composite Index slipped 0.03 percent.

Japanese market remained shut on account of New Year holiday.

In Europe, Paris CAC was down 0.58 percent, while Frankfurt's DAX fell 0.63 percent. London's FTSE slipped 0.29 percent.