The 30 stock S&P BSE Sensex slumped 509.24 points or 0.89 per cent to 56,598.28 points against its previous day`s close at 57,107.52 points. The Indian equities witnessed volatile trading amid weakness in the Asian peers.
The stock markets slumped across the world after the US Federal Reserve on Wednesday increased its policy interest rate by 75 basis points. The Fed also raised its target interest rate by three-quarters of a percentage point to a range of 3 to 3.25 per cent.
The markets saw volatile activity. The Sensex rose to 60,119.80 points in the early morning session after opening the day considerably higher at 60,045.75 points. The National Stock Exchange s Nifty 50 index, which is more inclusive, increased 34.60 points, or 0.19 percent, from its previous day.
Among Sensex scrips, Bajaj Finserv, Bajaj Finance, Hindustan Unilever, Asian Paints, Titan, Maruti Suzuki India, Kotak Mahindra Bank and Nestle were the major gainers. Power Grid, NTPC, Reliance Industries, Larsen & Toubro and Tata Steel were the laggards.