Sensex dropped 1545 points, Nifty ended below 17200, JSW Steel down 7%

Indian markets ended in the red after a huge sell-off across the indices. Nifty ended below 17200, while Sensex slipped below 58000 points. Sensex dropped 1545 points to end at 57,491.51, while Nifty shed 468 points to close at 17149.10. 

All the sectoral indices ended in the red. Nifty Realty, Nifty Auto, Nifty IT, Nifty Metal, Nifty Pharma, Nifty FMCG, Nifty Capital goods, and Nifty Power were 2 to 6 per cent down. Even broader market indices were also corrected by around 5%.

On Nifty, its only Cipla and ONGC which managed to see some buying. All of other stocks have seen heavy selling pressure. JSW Steel became the top loser with nearly 7% fall, followed by Bajaj Finance (-6.36%), Tata Steel (-5.92%), Grasim (5.82%), Hindalco (-5.76%), Tech Mahindra (-5.54%), and Wipro (-5.42%).

Nifty lost more than 1000 points in the last five sessions. Heavy sell-off by FIIs ahead of the FED meet our markets to bleed miserably.