Indian Stocks crashed in opening trading on Thursday on the back of weak global cues.
The Bombay Stock Exchange's benchmark 30-share index, Sensex, fell 554.90 points to trade at 37,113 levels in early trading. Blue chip stocks like Mahindra and Mahindra, Infosys, and Bajaj Finance, among others, witnessed a sell off.
Similarly the National Stock Exchange's broader 50-share benchmark index, the Nifty 50, also fell 147 points to trade at 10,984. All the sectoral indices of the Nifty were trading at a loss. Metals and information technology stocks were laggards.
The fall in the Indian equity market took place in tandem with the weakness in other Asian markets following the overnight slump on Wall Street.
On Wednesday, concerns raised by the US Federal Reserve regarding the economic recovery spooked investor sentiments, which had repercussions for global equities. The Fed Deputy Chairman said that more fiscal stimulus was required as the US economy remains in a "deep hole" amid joblessness and lack of demand.