NHPC, Adani Enterprises, LTIMindtree, IIFL Finance, IndusInd Bank

India’s benchmark stock indices hit its biggest intraday fall in over a year on Wednesday due to panic selling in the shares of index heavyweight HDFC Bank Ltd.

The NSE Nifty 50 closed 460 points, or 2.09%, down at 21,571.95, while the S&P BSE Sensex fell 1,628 points, or 2.23%, to end at 71,500.76.

The Nifty 50 recorded its biggest fall since June 16, 2022, while the Sensex logged its biggest drop since Aug. 29, 2022.

Foreign portfolio investors recorded their highest-ever single-day selloff on Wednesday, as they turned net sellers of Indian equities after two days.

FPIs offloaded equities worth Rs 10,578.1 crore, according to provisional data from the National Stock Exchange. The previous highest-ever single-day selloff was Rs 9,691 crore, on Nov. 3, 2017.

Domestic institutional investors stayed net buyers and mopped up equities worth Rs 4,006.4 crore, the NSE data showed.

The Indian rupee weakened 6 paise to close at Rs 83.14 against the U.S dollar on Wednesday.

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