US Federal Reserve's interest rate hike pulls down Sensex
India Today
The 30-share BSE Sensex declined 337.06 points or 0.57 per cent to settle at 59,119.72. During the day, it tanked 624 points or 1.04 per cent to 58,832.78.
Equity indices fell on Thursday, mirroring weak global market trends following the US Federal Reserve's interest rate hike and hawkish stance.
The 30-share BSE Sensex declined 337.06 points or 0.57 per cent to settle at 59,119.72. During the day, it tanked 624 points or 1.04 per cent to 58,832.78.
The NSE Nifty went lower by 88.55 points or 0.50 per cent to end at 17,629.80.
Among the 30-share Sensex pack, Power Grid, HDFC Bank, HDFC, Axis Bank, Bajaj Finserv, ICICI Bank and UltraTech Cement were the major laggards. On the other hand, Titan, Hindustan Unilever, Asian Paints, Maruti and ITC were among the gainers.
Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended lower.
European bourses were trading in the red in mid-session deals. The US markets ended in negative territory on Wednesday.
"Fed turned more hawkish than anticipated increasing its rate forecast to 4.4 per cent by the end of 2022. The indication is that 125 bps more rate hikes can be expected in the next two policy meetings scheduled this year. Following this, the US dollar index rose above 111, depreciating INR to beyond 80.
