MUMBAI: Equity benchmark Sensex declined over 541 points on Thursday, pressured by heavy selling in index heavyweights Reliance Industries, Bajaj Finserv and ICICI Bank amid a sluggish trend in the global markets.
Besides, concerns over a sharp interest rate hike by the US Federal Reserve and a weak rupee against major currencies overseas further weighed on sentiment, traders said.
Snapping its three-day gaining streak, the 30-share BSE Sensex opened strong but came under severe selling pressure to close 541.81 points or 0.90 per cent lower at 59,806.28.
Similarly, the broader NSE Nifty declined 164.80 points or 0.93 per cent to 17,589.60.
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