Sensex Falls 130 Points, Nifty Loses 10,150 Level After US Fed Raises Key Interest Rate

Sensex fell 130 points to close at 33,006 points, while Nifty declined 40 points, or 0.40%, to end the day at 10,115 points

Sensex on Thursday fell 130 points to close at 33,006 points, while Nifty declined 40 points, or 0.40%, to end the day at 10,115 points.

Market indices stayed in the negative range during the day on Thursday. After opening higher in the morning trade, Sensex and Nifty declined considerably during the day.

The market benchmark index Sensex opened nearly 71 points higher at 33,207 points against the previous session’s closing of 33,136 points. Similarly, NSE 50 Nifty opened 12 points higher at 10,168 points against the previous session’s closing of 10,155 points on Thursday.

The US Federal Reserve raised interest rates on Wednesday and forecast at least two more hikes for 2018, highlighting its growing confidence that tax cuts and government spending will boost the economy and inflation and spur more aggressive future tightening, reported Reuters

The major losers of Sensex include State Bank of India (SBI), ICICI Bank, Wirpo and Mahindra & Mahindra (M&M) that declined by over 2% each, among other laggards.

The Sensex stocks that bucked the trend and rose include ONGC, IndusInd Bank, Relaince Industries (RIL), Tata Motors, among others.

India Bulls shares rose 20%, National Aluminium surged over 6% while Hathway rose over 4% on Thursday. Among the losers included Hindustan Construction Company that lost 17%, Jaipraksh Associates shares fell nearly 7% after Supreme Court directed the company to pay Rs. 200 crore by May 10.

The only two indices that traded in positive are BSE consumer durables and BSE metals. Barring these two, all other indices closed in the negative range.

BSE realty, BSE IT and BSE telecom were the worst performing indices of the day.

For the past two days, Sensex had been rising. It had closed at 32,996.76 on Tuesday while it closed above 33,000 points at 33,136.18 points on Wednesday.

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