Among Sensex stocks,
, Corp, , , , and were the top losers in today’s trading session, falling about 1-2.5%. On the other hand, , , , , and ended the session with gains.
Sectorally, the Nifty IT fell 1.18% and Nifty Auto dropped 0.42%. While Nifty PSU Bank and Nifty Realty closed higher. In the broader market, Nifty Midcap50 surged 0.37% and Smallcap50 increased 0.30%.
Fed’s refusal to tone down the rate hike narrative shattered the global markets as investors were in expectation of a dovish commentary, Vinod Nair, Head of Research at
, said.
“Powel cautions that the desired fed rate level is higher than expected, even though he indicated a rate hike of less than 75 bps in the upcoming meetings. On the back of concerns about the US recession, IT stocks led the domestic selloff, while FII support helped limit the losses,” Nair added.
Earlier in Asian markets, Japan’s Nikkei 225 ended flat with negative bias while South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng declined 0.33%, 0.19% and 3.08%, respectively.
The rupee fell against the dollar on Thursday after the US Federal Reserve Chair Jerome Powell pushed back against expectations of a relatively less hawkish stance. The rupee closed at 82.88, against a previous close of 82.78. The Brent crude January futures declined 1.08% to $95.21 per barrel.
The market breadth was skewed in favour of bulls. About 1,772 stocks gained, 1,683 declined and 129 remained unchanged.
