Sensex skids 250pts, Nifty below 17,900; ITC, HUL down 1%

Domestic equity markets started Wednesday’s trade on a weaker note, as hotter-than-expected US inflation data stoked rate hike concerns.

Key indices Nifty50 declined over 40 points to trade 17,900 below, whereas the S&P BSE Sensex dropped over 150 points to trade around 60,865 levels.

Broader markets, too, edged lower as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.5 per cent.

Sectorally, Nifty IT index was the worst hit as it declined up to 1 per cent, while the Nifty Media and Nifty Metal indices were off to a positive start.

Among individual stocks, shares of Torrent Power soared 8 per cent after the company reported 88 per cent YoY growth in its consolidated net profit at Rs 694.54 crore in Q3FY23.

Besides, shares of Eicher Motors surged 3 per cent after it posted better-than-expected December quarter results.