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MARKET WRAP: Sensex ends 139 pts lower, Nifty at 10,808 as Fed hikes rates

Among sectoral indices, the Nifty IT index ended 1.5% lower led by a fall in shares of MindTree, Tech Mahindra and Tata Consultancy Services.

SI Reporter  |  New Delhi 

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Nifty IT Index ended 1.49% lower. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) MINDTREE 994.05 1028.75 -34.70 -3.37 INFOSYS 1240.00 1274.80 -34.80 -2.73 TECH MAHINDRA 698.40 713.80 -15.40 -2.16 TCS 1785.00 1824.10 -39.10 -2.14 INFIBEAM INCORP. 151.90 153.90 -2.00 -1.30 Nifty sectoral losers of the day BSE Sensex: TCS, ICICI Bank, SBI among top losers of the day, Sun Pharma top gainer Market at close   The S&P BSE Sensex ended at 35,600, down 139 points while the broader Nifty50 index settled at 10,808, down 49 points. Future Supply Chain, Hindustan Aeronautics hit lowest level since listing Shares of Future Supply Chain Solutions (FSC) and Hindustan Aeronautics (HAL) have hit their respective lowest values since their listing on the bourses. FSC, a Future Group Company, has dipped 7% to Rs 620 on the BSE. The stock made its debut on December 18, 2017, trading 7% lower against its initial public offer price of Rs 664 per share. READ MORE   Euro zone bond markets brace for ECB shift, stimulus scheme nears end   European government bond yields in the euro area edged up on Thursday as the European Central Bank prepared to debate whether to end its unprecedented stimulus scheme this year.   On Wednesday the US Federal Reserve raised interest rates as expected, and signalled two more hikes this year, citing higher inflation. READ MORE

The benchmark indices ended lower after the US Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year.

The S&P BSE Sensex ended at 35,600, down 139 points while the broader Nifty50 index settled at 10,808, down 49 points.

Among sectoral indices, the Nifty IT index ended 1.5% lower led by a fall in shares of MindTree, Tech Mahindra and Tata Consultancy Services.
 
FEDERAL RESERVE

Investors latched on to a change in Fed policymakers’ rates projections, which pointed to two additional hikes by the end of this year compared to one previously, based on board members’ median forecast.

The Fed has raised rates seven times since late 2015 on the back of the economy's continuing expansion and solid job growth, rendering the language of its previous policy statements outdated.

DOMESTIC ECONOMIC DATA

Back home, the Wholesale inflation spiked to 4.43 per cent in May, from 3.18 per cent in April, according to the government data released on Thursday.

Meanwhile, India's current account deficit (CAD) rose to $13 billion (Rs 878 billion and 1.9 per cent of gross domestic product, or GDP) in the fourth and final quarter (Q4 of 2017-18), compared to $2.6 billion (Rs 176 billion and 0.4 per cent of GDP) in the same period of 2016 -17.

For the full financial year (2017-18), the deficit increased to 1.9 per cent of GDP, from 0.6 per cent in 2016-17. 

GLOBAL MARKETS

Globally, MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.0 per cent. Shares in South Korea and Taiwan fell over one per cent.

Japan's Nikkei dropped 0.6 per cent. In mainland China, the Shanghai composite index hit a 20-month closing low, shedding 0.4 per cent.

(with inputs from Reuters)

First Published: Thu, June 14 2018. 15:30 IST
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MARKET WRAP: Sensex ends 139 pts lower, Nifty at 10,808 as Fed hikes rates

Among sectoral indices, the Nifty IT index ended 1.5% lower led by a fall in shares of MindTree, Tech Mahindra and Tata Consultancy Services.

Among sectoral indices, the Nifty IT index ended 1.5% lower led by a fall in shares of MindTree, Tech Mahindra and Tata Consultancy Services.
The benchmark indices ended lower after the US Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year.

The S&P BSE Sensex ended at 35,600, down 139 points while the broader Nifty50 index settled at 10,808, down 49 points.

Among sectoral indices, the Nifty IT index ended 1.5% lower led by a fall in shares of MindTree, Tech Mahindra and Tata Consultancy Services.
 
FEDERAL RESERVE

Investors latched on to a change in Fed policymakers’ rates projections, which pointed to two additional hikes by the end of this year compared to one previously, based on board members’ median forecast.

The Fed has raised rates seven times since late 2015 on the back of the economy's continuing expansion and solid job growth, rendering the language of its previous policy statements outdated.

DOMESTIC ECONOMIC DATA

Back home, the Wholesale inflation spiked to 4.43 per cent in May, from 3.18 per cent in April, according to the government data released on Thursday.

Meanwhile, India's current account deficit (CAD) rose to $13 billion (Rs 878 billion and 1.9 per cent of gross domestic product, or GDP) in the fourth and final quarter (Q4 of 2017-18), compared to $2.6 billion (Rs 176 billion and 0.4 per cent of GDP) in the same period of 2016 -17.

For the full financial year (2017-18), the deficit increased to 1.9 per cent of GDP, from 0.6 per cent in 2016-17. 

GLOBAL MARKETS

Globally, MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.0 per cent. Shares in South Korea and Taiwan fell over one per cent.

Japan's Nikkei dropped 0.6 per cent. In mainland China, the Shanghai composite index hit a 20-month closing low, shedding 0.4 per cent.

(with inputs from Reuters)
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Business Standard
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MARKET WRAP: Sensex ends 139 pts lower, Nifty at 10,808 as Fed hikes rates

Among sectoral indices, the Nifty IT index ended 1.5% lower led by a fall in shares of MindTree, Tech Mahindra and Tata Consultancy Services.

The benchmark indices ended lower after the US Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year.

The S&P BSE Sensex ended at 35,600, down 139 points while the broader Nifty50 index settled at 10,808, down 49 points.

Among sectoral indices, the Nifty IT index ended 1.5% lower led by a fall in shares of MindTree, Tech Mahindra and Tata Consultancy Services.
 
FEDERAL RESERVE

Investors latched on to a change in Fed policymakers’ rates projections, which pointed to two additional hikes by the end of this year compared to one previously, based on board members’ median forecast.

The Fed has raised rates seven times since late 2015 on the back of the economy's continuing expansion and solid job growth, rendering the language of its previous policy statements outdated.

DOMESTIC ECONOMIC DATA

Back home, the Wholesale inflation spiked to 4.43 per cent in May, from 3.18 per cent in April, according to the government data released on Thursday.

Meanwhile, India's current account deficit (CAD) rose to $13 billion (Rs 878 billion and 1.9 per cent of gross domestic product, or GDP) in the fourth and final quarter (Q4 of 2017-18), compared to $2.6 billion (Rs 176 billion and 0.4 per cent of GDP) in the same period of 2016 -17.

For the full financial year (2017-18), the deficit increased to 1.9 per cent of GDP, from 0.6 per cent in 2016-17. 

GLOBAL MARKETS

Globally, MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.0 per cent. Shares in South Korea and Taiwan fell over one per cent.

Japan's Nikkei dropped 0.6 per cent. In mainland China, the Shanghai composite index hit a 20-month closing low, shedding 0.4 per cent.

(with inputs from Reuters)

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Business Standard
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