Indian Stock Markets Open Lower; BSE Sensex Down Over 1%

Indian stock markets traded lower on Wednesday. The S&P BSE Sensex declined 296 points, or 1.06 percent at 27580.26. The 30-share index touched a low of 27,546.80 in the morning trade. The Nifty50 fell 1.13 percent to 8528.45.

The S&P BSE Midcap Index dropped 1.2 percent, while the BSE S&P Smallcap Index slipped 1.4 percent.

The Indian rupee declined 6 paise to trade at 66.80 versus the US dollar on Wednesday.

The U.S. Federal Open Market Committee is scheduled to announce its policy decision later in the day. A new poll showed Donald Trump leading the presidential race over Hillary Clinton.

US stock markets closed lower overnight, with the Dow Jones Industrial Average falling 0.58 percent, the S&P500 index dropping 0.68 per cent, and the Nasdaq Composite slipping 0.69 percent.

US WTI crude futures on the NYMEX dropped 0.79 percent to trade at $46.30 per barrel.

Top market movers among the BSE index are as follows

• Shares of Info-Drive Software Ltd. rose 20 percent to 0.24 INR.
• DRA Consultants Ltd. shares surged 16 percent to 33.50 INR.
• Hilton Metal Forging Ltd. rose about 16 percent to 25.20 INR.
• Surana Industries Ltd. shares gained around 14 percent to 7.90 INR.

• Paras Petrofils Ltd. dropped around 20 percent to 0.20 INR.
• Maithan Alloys Ltd. fell around 13 percent to 281.70 INR.
• ATN International Ltd. slipped 11 percent to 0.40 INR.
• Viji Finance Ltd. shares declined 10 percent to 15.65 INR.