Sensex, Nifty, Midcap fall 1%; M&M, HUL, NTPC outperform
The market has opened with severe cuts as Federal Reserve meeting on rate decision ends today while global peers are also rattled. Asian markets were weak after Wall Street's "fear index" spiked on jitters over the US presidential election.
The Sensex is down 276.16 points or 0.9 percent at 27600.45 and the Nifty is down 91.20 points or 1 percent at 8535.05. About 262 shares have advanced, 952 shares declined, and 26 shares are unchanged.
Axis Bank, Tata Motors, L&T and Reliance were losers in the Sensex.
The Indian rupee opened marginally lower at 66.78 per dollar versus previous close 66.71.
The US dollar hit its lowest level in more than two weeks against the euro on US political uncertainty, while the Mexican Peso hit a more than three-week low on positioning for a potential victory for republican presidential candidate Donald Trump.
Asian shares stumbled and the US dollar was on the defensive as signs that Republican US presidential candidate Donald Trump could be closing the gap with his Democratic rival Hillary Clinton spooked investors.