Markets under pressure; Europe down ahead of ECB policy meeting
14/06/2018 14:23
Benchmark indices are trading lower in the post-afternoon trade as investors digested interest rate hike by the US Federal Reserve and await European Central Bank policy rate decision due later in the day.

European markets are also lower today with shares in London off the most. The FTSE 100 is down 0.65% while France's CAC 40 is off 0.49% and Germany's DAX is lower by 0.37%.

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 USD 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 USD 2.6 billion (Rs 176 billion and 0.4 per cent of GDP) in the same period of 2016 -17.

At 14:07 hours, BSE SENSEX was at 35577.45 down by -161.71 points or by -0.45 % and NSE Nifty was at 10798.45 down by -58.25 points or by -0.54 %.

The BSE 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 losers of the BSE Sensex pack were Infosys Ltd. (Rs. 1240.00,-2.83%), ICICI Bank Ltd. (Rs. 284.90,-2.03%), Tata Consultancy Services Ltd. (Rs. 1792.20,-1.75%), State Bank of India (Rs. 282.75,-1.70%), Adani Ports & Special Economic Zone Ltd. (Rs. 376.00,-1.61%), among others.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 556.55,+2.00%), YES Bank Ltd. (Rs. 336.50,+1.02%), IndusInd Bank Ltd. (Rs. 1961.50,+0.74%), Reliance Industries Ltd. (Rs. 1007.70,+0.56%), Dr. Reddy's Laboratories Ltd. (Rs. 2264.20,+0.54%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2739, shares advanced were 1084 while 1511 shares declined and 144 were unchanged.