The BSE Sensex and NSE Nifty fell over 1.5% a piece after Q4 GDP slumped to an unprecedented 5.3%, a number most polls and economist failed to foresee.
Both the indices are headed for their biggest monthly loss since November 2011. Global risk aversion and drop in rupee to record low are also adding to the woes.
Traders are also eyeing the expiry of derivatives at the end of the session.
Tata Motors shares extend fall, down 3%, after operating earnings on Tuesday disappointed investors. The stock fell almost 12% on Wednesday
Reliance Industries falls 2.4%.
Financial shares leading losses on derivatives expiry day, with ICICI bank
down 3.5%.
The Sensex was down 193.01 points or 1.18% at 16119.14, and the Nifty was down 56.95 points or 1.15% at 4893.80.
The market breadth was negative, about 713 shares advanced, 1196 shares declined, and 1515 shares remain unchanged.
Top losers on the Sensex were ICICI Bank at Rs 786.65 down 3.71%, Maruti Suzuki at Rs 1,109.80 down 3.57%, Tata Motors at Rs 236 down 3.02%, Reliance at Rs 684.95 down 3.01% and Tata Steel at Rs 402.30 down 1.94%.
Index heavyweight Reliance was trading at Rs 684.95 down 3.01% from its previous close of Rs 706.20.
Tech major Infosys was trading at Rs 2,395.65 down 1.11% from its previous close of Rs 2,422.45.
Cigarette major ITC was trading at Rs 231.15 down 0.32% from its previous close of Rs 231.90.
Refinery major HPCL was trading at Rs 285.50 down 1.4% from its previous close of Rs 289.55.
Most active shares on BSE were SBI, Tata Motors, Hindalco, ICICI Bank and Reliance.
Top percentage gainers on the BSE - Malwa Cotton, Liberty Shoes, Paushak, Dutron Polymers and GKB Ophthalmics were up 10-15%.
Top percentage losers on the BSE - HDFC Warrants, Fresenius Kabi, DFM Foods, Vikas Granaries and SpiceJet were down 9-38%. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
