Market Wrap: Sensex tanks 610 pts as oil, global cues weigh; Nifty ends below 19550; TechM, Asian Paints drag

Indian shares fell on Thursday, reversing early gains, led by losses in information technology and consumer stocks, while weakness in global equities amid fears of higher interest rates and surging crude prices weighed further. Sensex plunged 610.37 points to close at 65,508.32, while Nifty fell 192.90 points to 19,523.55. Markets saw a volatile session ahead of F&O expiry with fear index India VIX jumping 10%. All sectors ended in the red with IT and FMCG falling around 2% each. 

Among stocks Tech Mahindra and Asian Paints were the biggest laggards slumping 3-4%, while L&T and Bharti Airtel ended with gains. Barring five stocks, all 30 constituents on the Sensex closed in the red.

Co-founder and non-executive director of Asian Paints Ashwin Dani passed away on Thursday, reported CNBC-TV18.

Earlier on 23 June, the Asian Paints board approved the appointment of Deepak Satwalekar as chairman of the board, saying Dani shall continue to be on the board of directors of the company as a non–executive/promoter director. (Read more) 

European shares edged lower for a sixth straight day on Thursday in choppy trading. The pan-European STOXX 600 index reversed early gains and slipped 0.2%.

Japan's benchmark Nikkei 225 dropped 1.6%.The Hang Seng index, Sydney's S&P/ASX also fell. Only Shanghai Composite was up.

Current account deficit widened to 1.1% of GDP in the June quarter from 0.2% in the preceding quarter, though it was lower than 2.1% seen in Q1FY23.

India's Adani group has switched the auditor of its main UK subsidiaries to the smaller London-based firm Ferguson Maidment & Co after previous auditor Crowe UK resigned in March, FT reported.