Sensex and Nifty Saw A Fall After Flying High For Three Consecutive Days

Reversing a steady start to the week, the market went down on Thursday as the Benchmark S&P BSE Sensex lost 139.34 points or 0.39 per cent to close at 35,599.82.  The NSE Nifty 50 went down by 48.65 points or 0.45 per cent to close at 10,808.05, after shuttling between 10,773.55 and 10,833.70 during the session.

The Sensex fell over 139 points after remaining high for three straight days, a fallout of the US Federal Reserve's decision to raise key interest rates by 0.25 per cent yesterday, its second hike this year. “Wholesale inflation rising to a 14-month high of 4.43 per cent in May also dented trading sentiment,” brokers said.

Sun Pharma gained the highest by 2.57 per cent, followed by Yes Bank (1.17 per cent), IndusInd Bank (1.00 per cent), Dr Reddy’s Laboratories (0.73 per cent) and Reliance (0.54 per cent), while ICICI Bank, Adani Ports, TCS, SBI and Axis Bank incurred losses - by 2.11 per cent, 1.75 per cent, 1.75 per cent, 1.72 per cent and 1.52 per cent, respectively.

At the NSE, Lupin, Sun Pharma and HCL Technologies were top three gainers whereas Infosys, Adani Ports and Tech Mahindra were top three losers at the time of market closing.

The global and Asian markets ended in red as Nikkei, Hang Seng, CAC 40, DAX, Shanghai Composite and FTSE 100 lost 0.99 per cent, 0.80 per cent, 0.20 per cent, 0.28 per cent, 0.18 per cent and 0.52 per cent, respectively, at the time of going to press.

The S&P BSE Midcap Index lost 12.13 points or 0.08 per cent and stood at 16,065.38, while the S&P BSE Small Cap Index gained marginally by 11.19 points or 0.07 per cent, and stood at 17,040.06.

As per the provisional data, foreign portfolio investors (FPIs) sold shares worth a net Rs 70.77 crore while domestic institutional investors (DIIs) bought equities worth Rs 486.78 crore -- key changes the market saw yesterday.

In the banking sector, the shares of IndusInd Bank and HDFC Bank gained 17.95 points (0.92 per cent), and 5.95 points (0.29 per cent), respectively, whereas SBI and Axis Bank lost 5.1 points (0.61 per cent) and 8.65 points (1.60 per cent), respectively, at the end of the day.

In the commodities sector, gold gained Rs 225 or 0.72 per cent and stood at Rs 31,368 per 10 grams. Brent Crude gained Rs 23 or 0.51 per cent and stood at Rs 4,529 per bbl, at the time of filing this report.