Sensex tumbles by over 700 points, Vodafone Idea dips by 13 per cent

Today's trading session ended on a negative note with domestic benchmark indices absorbing cues from global stocks and US Fed's policy announcement. Sensex tanked by 708.68 points or 2.07 per cent to settle at 33,538.37 while Nifty dropped by 214.15 points or 2.12 per cent and fell below its 10k levels settling at the level of 9,902 on Thursday.

As anticipated, the outcome of US Federal Reserve's meeting has had a significant impact on global markets. Gold prices were witnessed trading on a positive note as US Federal Reserve declared that interest rates would be kept unchanged. Moreover, US Federal Reserve projected that the economy will shrink by about 6.5 per cent in 2020. As this low-spirited outlook challenged the market's existing optimism about positive recovery of the global economy, Asian indices such as Shanghai, Hang Seng, Nikkei and KOSPI slid by 0.78 per cent, 2.27 per cent, 2.82 per cent and 0.86 per cent respectively. Resultant from the expected long road ahead towards economic recovery, bears were seen gripping the European markets as indices such as FTSE 100, DAX and CAC 40 were trading down by 2.09 per cent, 1.94 per cent and 2.04 per cent respectively. Owing to the views of US Federal Reserve and the increasing US crude stockpiles, crude oil prices also saw a dip.

In the midst of selling seen in the domestic markets, rupee was seen ending lower at 75.78 per USD against Wednesday's close of 75.58 per USD.

Sensex winners comprised IndusInd Bank up by 4.49 per cent, Hero MotoCorp rising by 0.73 per cent, Power Grid gaining by 0.44 per cent, Mahindra & Mahindra increasing by 0.33 per cent and Nestle India which went up by 0.26 per cent.

Sensex losers consisted of SBI dropping by 5.64 per cent, Sun Pharmaceuticals which fell by 5.12 per cent, Maruti decreasing by 4.18 per cent, Baja Finance dipping by 4.14 per cent, ICICI Bank declining by 3.47 per cent, etc.

Amidst BSE sectoral indices, Telecom was the biggest loser, down by 4.04 per cent awaiting news regarding the AGR case. BSE small-cap and mid-cap fell by 1.04 per cent and 1.41 per cent respectively.