Indian equities fall due to speculations of rate hike, falling rupee

Caution ahead of a likely hike in key lending rates by the Reserve Bank of India (RBI), along with a weak rupee and high crude oil prices, pulled the Indian equity indices deep in the red on Thursday.

The S&P BSE Sensex plunged by over 800 points, while the NSE Nifty50 lost over 300 points.

According to analysts, heavy selling pressure was witnessed in oil and gas, auto and healthcare counters.

Index-wise, the wider Nifty50 of the National Stock Exchange closed at 10,599.25 points, lower 259 points or 2.39 per cent from its previous close.

The S&P BSE Sensex, which opened at 35,820.53 points, closed at 35,169.16 points, down 806.47 points or 2.24 per cent, from its previous close of 35,975.63 points.

It touched an intra-day high of 35,820.53 points and a low of 35,022.12 points.

(With inputs from agencies.)