<p>Domestic equity benchmark Sensex plunged 394 points on Thursday, tracking a massive selloff in global markets after US Fed's gloomy economic outlook spooked investors across the world.</p>.<p>The BSE Sensex ended 394.40 points or 1.02 per cent lower at 38,220.39. The broader NSE Nifty slumped 96.20 points or 0.84 per cent to 11,312.20.</p>.<p>HDFC was the top loser in the Sensex pack, shedding over 2 per cent, followed by Axis Bank, Bharti Airtel, M&M, Reliance Industries, ICICI Bank, IndusInd Bank and Titan.</p>.<p>On the other hand, NTPC, ONGC, PowerGrid and Tata Steel were the gainers.</p>.<p>The Indian market opened on a negative note following subdued Asian markets which were impacted by the US Federal Reserve's cautious view of the economy, US-China tensions and new clusters of coronavirus infections, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.</p>.<p>The Fed's minutes showed again that policymakers are finding it difficult to forecast the path of the economy, which will depend greatly on what happens with the coronavirus.</p>.<p>During the afternoon session markets briefly attempted to bounce back from day's lows but the strength failed to sustain as profit booking by traders was seen, he said.</p>.<p>"Traders also remained concerned with the World Bank's report stating that it is likely to project a steeper contraction in India's economy than the 3.2 per cent it had forecast for the current financial year," he added.</p>.<p>Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with heavy losses.</p>.<p>Stock exchanges in Europe also witnessed robust selling in early sessions.</p>.<p>Global oil benchmark Brent crude was trading 1.06 per cent lower at $44.89 per barrel.</p>.<p>In the forex market, the rupee settled at 75.02 against the US dollar, down 20 paise over its previous close.</p>
<p>Domestic equity benchmark Sensex plunged 394 points on Thursday, tracking a massive selloff in global markets after US Fed's gloomy economic outlook spooked investors across the world.</p>.<p>The BSE Sensex ended 394.40 points or 1.02 per cent lower at 38,220.39. The broader NSE Nifty slumped 96.20 points or 0.84 per cent to 11,312.20.</p>.<p>HDFC was the top loser in the Sensex pack, shedding over 2 per cent, followed by Axis Bank, Bharti Airtel, M&M, Reliance Industries, ICICI Bank, IndusInd Bank and Titan.</p>.<p>On the other hand, NTPC, ONGC, PowerGrid and Tata Steel were the gainers.</p>.<p>The Indian market opened on a negative note following subdued Asian markets which were impacted by the US Federal Reserve's cautious view of the economy, US-China tensions and new clusters of coronavirus infections, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.</p>.<p>The Fed's minutes showed again that policymakers are finding it difficult to forecast the path of the economy, which will depend greatly on what happens with the coronavirus.</p>.<p>During the afternoon session markets briefly attempted to bounce back from day's lows but the strength failed to sustain as profit booking by traders was seen, he said.</p>.<p>"Traders also remained concerned with the World Bank's report stating that it is likely to project a steeper contraction in India's economy than the 3.2 per cent it had forecast for the current financial year," he added.</p>.<p>Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with heavy losses.</p>.<p>Stock exchanges in Europe also witnessed robust selling in early sessions.</p>.<p>Global oil benchmark Brent crude was trading 1.06 per cent lower at $44.89 per barrel.</p>.<p>In the forex market, the rupee settled at 75.02 against the US dollar, down 20 paise over its previous close.</p>