The Sensex and Nifty closed over 1 per cent down, as signs that the US presidential race was tightening rattled global investor sentiment, sending Asian shares to seven-week lows and weakening the dollar.

Investors cut down their bets, tracking a weak trend in global market after a new US presidential poll showed Donald Trump ahead of market favourite Hillary Clinton.

The 30-share BSE index Sensex ended lower by 349.39 points or 1.25 per cent at 27,527.22 and the 50-share NSE index Nifty closed down by 112.25 points or 1.3 per cent at 8,514.

Among BSE sectoral indices, oil & gas index fell the most by 2.76 per cent, realty 2.18 per cent, healthcare 2.15 per cent and PSU 2.05 per cent.

Major losers were ONGC (-4.1%), Tata Motors (-3.19%), State Bank of India (-2.75%), Sun Pharma (-2.61%) and Reliance (-2.31%), while the only four gainers were M&M (+3.54%), NTPC (+0.74%), HUL (+0.74%) and Axis Bank (+0.05%).

Global markets

World stocks, the dollar and oil fell on Wednesday, while safe-haven assets such as gold and the Swiss franc rose as investors were rattled by signs the US presidential race was tightening just days before the vote.

Asian shares tumbled to seven-week lows and the dollar was on the defensive on Wednesday as investors were rattled by signs the US presidential election race was tightening just days out to the November 8 vote.

Markets were beginning to rethink their long-held bets of a victory for Democratic candidate Hillary Clinton amid signs her Republican rival Donald Trump could be closing the gap, forcing money out of riskier assets and into safe-havens such as the Japanese yen and gold.

Wall Street sold off on Tuesday , with the S&P 500 closing at the lowest level since July 7, amid growing concern over the impending US presidential election and prospects for higher US interest rates.

Stocks pared losses after falling steeply in early afternoon trading as the S&P 500 breached a key technical level.

Related Topics
comment COMMENT NOW