US rate-hike fear, weak rupee drag equity indices lower
Mumbai: Key Indian equity indices provisionally closed in the red on Thursday as investors remained cautious over another rate-hike in December signalled by the US Federal Reserve.
Besides, a weak rupee and heavy selling pressure in consumer durables, banking and automobile stocks added to the downslide of the key indices.
However, an upsurge in pharma heavyweights like Dr. Reddy’s Lab, Lupin, Cipla and Sun Pharma aided to trim some losses.
The wider Nifty50 of the National Stock Exchange (NSE) fell by 19.25 points, or 0.19 per cent, to provisionally close at 10,121.90 points (at 3.30 p.m.).
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,406.42 points, closed at 32,370.04 points — down 30.47 points, or 0.09 per cent, from its previous close at 32,400.51 points.
The Sensex touched a high of 32,462.61 points and a low of 32,164.42 during intra-day trade.
The BSE market breadth was bearish — 1,554 declines and 1,002 advances.
On Wednesday, benchmark indices closed with fractional losses as heavy outflow of foreign funds and selling pressure kept investors’ sentiments subdued.
The Nifty50 of the National Stock Exchange (NSE) fell by 6.40 points or 0.06 per cent to close at 10,141.15 points, while the Sensex closed at 32,400.51 points — down 1.86 points, or 0.01 per cent.