Sensex, Nifty under pressure as Fed raises rate
14/06/2018 13:32
Indian benchmarks continued to trade lower during the noon trading session after 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, while concerns about US-China trade frictions also might keep investors on edge.

Investors, however, 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.

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.

At 13:25 hours, the 30-share benchmarks index was trading at 35559.7 down by 179.46 points or by 0.5 per cent, while the NSE Nifty was at 10788.65 down by 68.05 points or by 0.63 per cent.

In the choppy trade so-far, Sensex touched intraday high of 35749.88 and intraday low of 35488.55 The NSE Nifty touched intraday high of 10833.7 and intraday low of 10773.55.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 557.45,+2.16%), YES Bank Ltd. (Rs. 336.80,+1.11%), Dr. Reddy's Laboratories Ltd. (Rs. 2273.50,+0.95%), Kotak Mahindra Bank Ltd. (Rs. 1334.10,+0.59%), IndusInd Bank Ltd. (Rs. 1956.75,+0.50%), among others.

The top losers of the BSE Sensex pack were Infosys Ltd. (Rs. 1242.65,-2.62%), State Bank of India (Rs. 282.40,-1.83%), Tata Consultancy Services Ltd. (Rs. 1791.60,-1.79%), Adani Ports & Special Economic Zone Ltd. (Rs. 375.65,-1.70%), Coal India Ltd. (Rs. 279.50,-1.55%), among others.

Among the sectors, HCS index was at 13997.53 up by 162.44 points or by 1.17%. Opto Circuits India Ltd. (Rs. 12.20,+14.34%), Divi's Laboratories Ltd. (Rs. 1089.35,+4.77%), Alembic Ltd. (Rs. 44.95,+4.29%), Aurobindo Pharma Ltd. (Rs. 606.50,+3.69%), SMS Pharmaceuticals Ltd. (Rs. 81.50,+3.69%),.

On the flip side, IT index was at 13639.28 down by -200.15 points or by -1.45%. MindTree Ltd. (Rs. 991.00,-3.79%), Mahindra & Mahindra Ltd. (Rs. 692.40,-2.95%), 63 Moons Technologies Ltd. (Rs. 82.70,-2.88%), Intense Technologies Ltd. (Rs. 69.00,-2.82%), TVS Electronics Ltd. (Rs. 372.50,-2.73%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2668 , shares advanced were 1036 while 1500 shares declined and 132 were unchanged