<p>The BSE Sensex tanked 462.80 points to end at 37,018.32 to close on Thursday, while the NSE Nifty dived 138 points to 10,980.00, led by a sharp sell-off in auto, banks, and metal stocks.</p>.<p>In the Sensex pack, Vedanta took the biggest hit (5.81 per cent), followed by Tata Motors, SBI, Yes Bank, Bharti Airtel and Infosys, sliding up to 5.53 per cent.</p>.<p>On the global front, the US Federal Reserve reduced the benchmark lending rate by 25 basis points to 2.0-2.25 per cent on Wednesday for the first time in more than a decade.</p>.<p>However, Fed Chair Jerome Powell said the move was not the beginning of a long series of rate cuts, sending global markets lower.</p>.<p>Domestic sentiment was also hit after official data showed that the growth of eight core industries dropped to 0.2 per cent in June, mainly due to a contraction in oil-related sectors as well as cement production. <br /> </p>
<p>The BSE Sensex tanked 462.80 points to end at 37,018.32 to close on Thursday, while the NSE Nifty dived 138 points to 10,980.00, led by a sharp sell-off in auto, banks, and metal stocks.</p>.<p>In the Sensex pack, Vedanta took the biggest hit (5.81 per cent), followed by Tata Motors, SBI, Yes Bank, Bharti Airtel and Infosys, sliding up to 5.53 per cent.</p>.<p>On the global front, the US Federal Reserve reduced the benchmark lending rate by 25 basis points to 2.0-2.25 per cent on Wednesday for the first time in more than a decade.</p>.<p>However, Fed Chair Jerome Powell said the move was not the beginning of a long series of rate cuts, sending global markets lower.</p>.<p>Domestic sentiment was also hit after official data showed that the growth of eight core industries dropped to 0.2 per cent in June, mainly due to a contraction in oil-related sectors as well as cement production. <br /> </p>