HDFC Bank sparks worst day for India's Nifty

BENGALURU, Jan 18 (Reuters): India's blue-chip indexes posted their worst session in 19 months on Wednesday, led by a slide in top private lender HDFC Bank after its quarterly results.

The blue-chip NSE Nifty 50, opens new tab shed 2.09 per cent to 21,571.95, while the S&P BSE Sensex, opens new tab lost 2.23 per cent to 71,500.76. Both indexes posted their biggest single-day per centage drop since June 2022.

HDFC Bank, opens new tab, the heaviest-weighted stock on the indexes, tumbled 8.44 per cent in its biggest one-day slide since May 2020, on worries over its stagnant margins.

The pullback in the indexes comes after a recent rally as better-than-feared reports from top IT companies sparked hopes of healthier earnings growth.