Sensex down around 250 points; foreign investors sell

Reuters Market Eye - The BSE Sensex was down around 250 points, recovering after falling more 400 points earlier on Wednesday as blue chip shares including HDFC slumped after the rupee hit a record low, accentuating fears of foreign selling.

Dealers say nearly $1 billion worth of Indian shares sold by overseas investors in the last eight sessions is a pretty big number and can easily extend itself in the current environment.

The benchmark BSE Sensex is down 2.67 percent, while the broader Nifty fell more than 3 percent.

Blue chip shares continue to fall on foreign selling worries with Housing Development Finance Corp Ltd down 5.42 percent, while ITC Ltd falls 3.88 percent

However, Wipro Ltd gains 2.21 percent after the announcement of its inclusion in the National Stock Exchange's 50-stock Nifty effective September 27.

(Reporting by Abhishek Vishnoi)