Shares slip, rupee falls as Fed signals earlier rate increases
The Hindu
Sensex slides 0.34%, rupee drops to weakest since early May
Equity benchmarks fell for the second straight session on Thursday, mirroring weakness in global markets after the U.S. Federal Reserve surprised investors by signalling faster-than-expected rate increases. A sharp drop in the rupee — which plunged 76 paise against the dollar — also sapped risk appetite, traders said. The 30-share BSE Sensex ended 0.34% lower at 52,323.33. The broader NSE Nifty declined 76.15 points, or 0.48%, to 15,691.40. Banking and finance stocks accounted for most of the losses, while the IT pack saw brisk buying, fuelled by a weak rupee. IndusInd Bank was the top loser in the Sensex, shedding 2.9%, followed by Dr. Reddy’s, NTPC, Maruti, Bajaj Auto, Axis Bank, Bharti and HDFC.More Related News