Closing Bell: Sensex slips 69 points, Nifty down 30 points

Indian equity benchmarks ended in losses on Thursday amid a negative trend in global equity markets. The US Federal Reserve on Wednesday raised its interest rates by 75 basis points taking it to over a decade high at 3.75%-4.00%. Indian equities made a negative start and continued their weak run till the end of the session amid Reserve Bank of India’s monetary policy committee (MPC) meet to be scheduled later in the day.

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Extending its rally to the day high of 60,994.37, the Sensex closed 69.68 or 0.11% lower to 60,836.41 points. The Nifty rose 30.15 or 0.17% lower to 18,052.70. 

The broader indices ended mixed with the BSE MidCap index gaining 0.22% and the SmallCap index up by 0.11%. 

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The top losing sectoral indices on the BSE were Utilities down by 1.26%, Power 1.18%, IT 1.13%, TECK 0.80%, and Auto 0.46%, while Realty up by 0.63%, Telecommunication 0.39%, Bankex 0.30%, FMCG 0.28%, and Financial Services 0.27% were the gaining sectoral indices on BSE.

Top laggards on the Sensex were Tech Mahindra down by 2.66%, Power Grid 2.04%, NTPC 1.47%, Infosys 1.41%, Wipro 1.33%, Mahindra & Mahindra 1.24%, TCS 1.10%, Ultratech Cement 0.91%, Sun Pharma 0.74%, and Bajaj Finance 0.42%.

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Top gainers from the Sensex pack were State Bank of India up by 1.89%, Titan Company 1.53%, Bharti Airtel 1.05%, Tata Steel 0.99%, Hindustan Unilever 0.95%, IndusInd Bank 0.85%, Dr Reddy’s Labs 0.80%, Bajaj Finserv 0.71%, ICICI Bank 0.43%, and Reliance Industries Limited 0.41%. 

The rupee fell 10 paise to close at 82.90 against the US dollar on Thursday.

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Asian markets settled lower with the KOSPI Composite down by 0.33%, the Nikkei 225 down by 0.06%, Shanghai Composite down by 0.19%, and Hang Seng down by 3.08%.

European stock exchanges were trading lower in mid-session deals. The US equity markets ended lower on Wednesday.

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Brent crude futures, the international oil benchmark slipped 1.16% to $95.04 per barrel.

According to stock exchange data, foreign institutional investors purchased shares worth a net of Rs  1,436.30 crore on Wednesday.