Nifty ends lower on hawkish Fed outlook, down 48.65 points
Mumbai, Jun 14 (PTI) NSE Nifty slipped 48.65 points to 10,808.05 in volatile trade, weighed down by negative global cues after the US Federal Reserve increased key policy interest rates.
Selling pressure was seen in most of the sectors, though the key index saw pull-back buying in healthcare and auto stocks. Moreover, US-China trade frictions kept investors on edge.
The rupee weakened for the third session against the US dollar after India's current account deficit widened more than expected in the last quarter. India's wholesale inflation rising to a 14-month high in May also spoiled sentiment.
Overseas, shares in Europe and Asia dropped as mining stocks were bruised by concerns about China's economic health after downbeat data.
On the sectoral front, IT index fell by 1.49 per cent followed by PSU banks 1.44 per cent, Infra 0.78 per cent, media 0.70 per cent, metals 0.44 per cent, banks 0.30 per cent, finance services 0.38 per cent and private banks 0.26 per cent. While, pharma index jumped by 1.83 per cent and auto 0.06 per cent.
The Nifty 50 index fell by 48.65 points, or 0.45 per cent, to end at 10,808.05, before hovering in a range of 10,833.70 and 10,773.55. It saw an intra-day movement of about 60.15 pts.
Major index gainers were Lupin, Sun Pharma, HCL Technologies, Cipla, Yes Bank, Dr Reddy, Bajaj Finance and Coal India.
Losers included, Infosys, TechM, Adani Ports, TCS, IOC, ICICI bank, SBIN and Axis Bank.
The market breadth, indicating overall health of the market, turned negative. A total of 817 scrips advanced and 955 declined while 90 remained unchanged. Total securities that have hit their price band were 183.
Turnover in the cash segment fell to Rs 26,350.92 crore from Rs 29,082.30 crore as on Wednesday.
A total of 12,004.58 lakh shares changed hands in 95,16,649 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,47,45,723.83 crore. PTI ARR SHW ANS
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