The dollar was stuck at six-month lows, while Wall Street posted the biggest intra-day slide since September as the allegations of Trump’s interference with the federal investigation have raised uncertainty over his presidency.
At 2:26 pm, the S&P BSE Sensex was trading at 30,533, down 124 points, while the broader Nifty50 was ruling at 9,450, down 75 points.
In the previous session, the 30-share Sensex gained as much as 110 points to hit its fresh record high of 30,692, while the 50-share Nifty added 20 points to notch its all-time high of 9,532.
The broader markets underperformed benchmark indices with the S&P BSE Midcap index and S&P BSE Smallcap down 1.4% and 1.1% respectively.
TCS, Wipro, Lupin and Infosys were the top gainers while M&M, Tata Motors, L&T and HUL were the biggest laggards.
Shares of information technology (IT) companies were trading higher in otherwise weak market with the Nifty IT index gaining 2.4% on weak rupee. Among individual stocks, Tata Consultancy Services (TCS) rallied 5% to Rs 2,572, its highest level since March 15, 2017 on NSE. Wipro, Tech Mahindra, Infosys and HCL Technologies were up in the range of 1% to 3%.
The Nifty IT index was the only gainer among major indices, which were all trading in the red.
Among losers, Apollo Hospitals fell as much as 2.66% after an arm of Malaysian sovereign fund Khazanah looked to exit the healthcare provider by selling its remaining 4.78% stake.
United Breweries, brewer of Kingfisher beer, dropped as much as 4.8% after reporting an 87% fall in profit for the March-quarter.
IRB InvIT Fund, the first infrastructure trust to list on the exchanges, made its debut on the exchanges on Thursday at a price of Rs 102.50 per share. It was trading at flat, 0.2% higher with respect to issue price.
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