The 30-share Sensex fell 200 points to end at 57,991. Its broader peer, Nifty50, ended at 17,241, down 74 points.
Among Sensex stocks,
, , and were the top laggards in today’s trading session, falling around 1-2 per cent. HDFC , , , and also settled lower. However, , , , and , managed to end the session with gains of over 1 per cent.
Sectorally, the Nifty Consumer Durables index was the worst performer, falling 1.21 per cent. Nifty PSU Bank, Media, and Realty indexes also ended with cuts. However, Nifty IT advanced by 0.98 per cent. Nifty Midcap50 and Smallcap50 dropped 0.88 per cent and 0.36 per cent, respectively.
“Fear of an aggressive rate hike by the Fed on the back of strong employment data in the US disrupted the global equity trend. Inflation in the US is forecasted to stay high given low supply and high demand scenarios. To bring some parity in the economy, the Fed will have to target to lower demand by increasing the unemployment rate, which is not factored by the market,” Vinod Nair, Head of Research at
“In addition, rising crude prices and depreciating rupee is increasing the risk of imported inflation in India, affecting the domestic market,” Nair added.
In Asian Market, Japan’s Nikkei 225, South Korea’s Kospi and China’s Shanghai Composite declined 0.71 per cent, 0.22 per cent and 1.66 per cent, respectively.
The Indian rupee today recovered from a record low and closed flat against the US dollar after the RBI intervened in the markets. The rupee closed unchanged at 82.32, while Brent crude December futures fell 0.62 per cent to $97.31 per barrel due to low demand.
The m-cap of all listed companies on BSE decreased by Rs 1.28 lakh crore to Rs 274.33 lakh crore. The market breadth was skewed in favor of bears. About 2,128 stocks declined, 1,437 gained and 164 remained unchanged.