Sensex falls over 400 pts, Nifty down to 19,980; HDFC Bank falls over 3%, Tech Mahindra, Infosys lose

Domestic equities plunged lower on Wednesday ahead of US Fed’s meeting later tonight. BSE benchmark plunged 516 points to open at 67,080.18, while broader NSE Nifty50 slipped to 19,980.75.

By 9.30 am, Sensex was trading 428.33 points, or 0.63 per cent to 67,168.51, while Nifty 50 was down 117.35 points, or 0.58 per cent to 20,015.95.

Broader markets were mixed in the morning session, as Nifty Midcap 50 gained 0.28 per cent, Nifty Midcap Select jumped 0.12 per cent, and Nifty Smallcap 250 climbed 0.09 per cent. Meanwhile, the BSE midcap index declined 0.7 per cent and the smallcap index was down 0.5 per cent.

Shares of HDFC Bank fell 3 per cent after India’s top private lender said its completed merger with HDFC Ltd would affect some key financial ratios.

Tech Mahindra, Tata Steel, Bharti Airtel and Infosys were the other top laggards.