Sensex ends 300 points lower 55329, Nifty closes at 16450

On August 20, weak global cues pulled benchmark indexes down.

The S&P BSE Sensex fell 300 points to 55,329 points, while the Nifty50 fell 118 points to 16,450 points.

Tata Steel was the top Sensex loser, plunging over 8 per cent, followed by SBI, Dr Reddy's, Kotak Bank, Sun Pharma, Bajaj Auto and L&T.

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The idea of the Federal Reserve reducing down on bond purchases frightened investors, according to a Reuters article. Asian markets extended losses on a strong dollar, which is at a nine-month high, after the prospect of the Fed pulling back on bond purchases spooked investors.

Except for the measure of FMCG shares, all 15 sector gauges ended down, driven by the Nifty Metal index's nearly 6% drop.

The Nifty Realty, Healthcare, Private Bank, Oil & Gas, PSU Bank, Auto, and Bank indices all dropped 1.5 to 4%.

(With inputs from agencies)