Nifty, Sensex fall 1% mirroring Asia; JSPL down 4.5%

Indian shares went down around 1%, weighed down by broadbased selling and further fall in Asian markets. The Indian rupee too dropped further, depreciating by 30 paise to 56.41 against the US dollar.

The BSE Sensex tanked 170.28 points or 1.01% to 16,747.80 and the NSE Nifty lost 0.93% or 47.65 points to 5,080.55. On the global front, Nikkei tanked nearly 2% and Kospi was down over 1%. Shanghai, Hang Seng, Straits Times and Taiwan Weighted fell 0.2-0.7%.

Index heavyweight Reliance Industries dropped 1.5% while state-owned oil & gas producer ONGC was down 1%.

Top commercial vehicle maker Tata Motors, fast moving consumer goods major Hindustan Unilever and telecom operator Bharti Airtel tumbled more than 2%.

Private steel and power producer Jindal Steel topped the selling list, losing 4.5% after disappointing numbers in Q1.

Engineering and construction major Larsen & Toubro and country's largest lender State Bank of India declined 1% each.

Private sector lender ICICI Bank and software services exporter Infosys were down 0.7% each.

Among metals and mining stocks, Sterlite Industries, Hindalco, Coal India and Tata Steel tanked 2-3%. Wipro, country's third largest IT exporter tumbled another 3% after results.

The market breadth has widened its gap; about three shares declined for every share advancing on the National Stock Exchange.