US stocks opened lower on Wednesday after the US inflation report for August and weak global signals. The top index, Nifty50, fell more than 150 points to settle below 17,900, while the S&P BSE Sensex lost more than 700 points to settle at 59,867.

The broader market also weakened as the Nifty Smallcap 100, and Nifty Midcap 100 fell more than 1%.

The Nifty IT, Nifty Realty and Nifty Metal indices bore the brunt of the brutal sell-off, with all sectors falling into negative territory.

Tech Mahindra, TCS, Wipro and Infosys contributed significantly to the benchmark index’s decline. However, Asian Paints, NTPC and Kotak Mahindra Bank tried to cut losses.

KEC International rose more than 3% in a weak market among individual stocks after taking in new orders of Rs 1,108 crore.

Also, shares of Ambuja Cements hit a new 52-week high of Rs 498 per share after the company planned to raise funds on Friday, September 16.