Sensex plummets over 1,000 pts, Nifty tumbles below 15,400; Vedanta tanks 8%, Hindalco 7%

Equity indices faced heavy drubbing on Thursday after an initial rally, with the Sensex tanking 1,045.60 points amid a largely bearish trend overseas after the US Federal Reserve hiked rates by 75 basis points. Across-the-board selling played havoc on the headline indices, with index majors Reliance Industries and HDFC twins contributing most to the decline. Despite a smart rally in morning trade, the BSE benchmark failed to hold on to the gains and plummeted 1,045.60 points or 1.99 per cent to settle at 51,495.79 — its fifth day of decline. During the day, it tumbled 1,115.91 points or 2.12 per cent to its one-year low of 51,425.48. On similar lines, the NSE Nifty plunged 331.55 points or 2.11 per cent to close at 15,360.60.

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