Sensex plunges 304 points as US Federal Reserve signals possible rate hike in June

Indian shares fell more than 1% to post their biggest loss in three weeks on Thursday, tracking weak global markets as caution prevailed about the possibility of an interest rate hike by the US Federal Reserve as early as June.

The Nifty closed down 1.1% at 7,783.40, posting its biggest percentage loss since April 28, while the Sensex ended down 304.8 points, or 1.19% at 25,399.72.

On the 30-share barometer, the top gainers were Parag Milk (14%), Gati (6.15%), Edelweiss (5%), JK Lakshmi Cement (4.90%) and Balkrishna Industries (4.57%). Among the top losers were Sun TV (13.25%), Torrent Power (11.36%), Adani Ports (6.14%), Hathway (5.67%) and SAIL (5.33%).

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(With Reuters inputs)