Sensex tumbled 179 points, while Nifty fell 76.15 points or 0.48 per cent to 15,691.40 on Thursday, weighed down by losses in index heavyweights and a largely negative trend in global equities, even as new coronavirus infection and death numbers kept falling, with active cases down to a 71-day low at 8,26,740, according to a Union health ministry release.

The rupee too continued on its downward journey, sliding 76 paise to close below $74 on Thursday, tracking a strong greenback overseas after the US Federal Reserve surprised the market by signalling a rate hike sooner than expected.

The 30-share BSE index ended 178.65 points or 0.34 per cent lower at 52,323.33, with IndusInd Bank the top loser, shedding around 3 per cent, followed by Dr Reddy’s, NTPC, Maruti, Axis Bank, Bajaj Auto, Bharti Airtel and HDFC. UltraTech Cement, TCS, Asian Paints and Infosys were among the gainers.

“Bulls stepped back a bit following the economic forecast by US Federal Reserve, as the street stayed cautious on slow economic recovery in emerging markets, unlike some developed markets,” said S Ranganathan, head of research at LKP Securities.

The Fed’s policymakers said they would raise their benchmark short-term rate, which influences many consumer and business loans, twice by late 2023. They had previously estimated that no rate hike would occur before 2024.

While metal names saw profit-booking, there was keen buying interest in cement and IT, well-supported by select consumer names during the volatile afternoon session of trade, Ranganathan noted.

Elsewhere in Asia, bourses in Shanghai and Hong Kong ended on a positive note, while Seoul and Tokyo were in the red. Stock exchanges in Europe were also trading with losses in mid-session deals.

Brent crude was trading 0.09 per cent higher at $74.46 per barrel.