HomeLatest NewsMarket closing bell: Sensex down 200 points; Nifty is around 17,630

Market closing bell: Sensex down 200 points; Nifty is around 17,630

Indian stock market’s benchmark Sensex fell 337 points on Thursday after the US Federal Reserve raised interest rates by 75 basis points and signaled that borrowing costs will rise further in the coming months.

The 30-stock S&P BSE Sensex closed down 337.06 points, or 0.57 percent, at 59,119.72 points from the previous day’s close of 59,456.78 points.

Earlier, the Sensex started the day in the red by falling to 58,832.78 points at 59,073.84 points. The Sensex touched an intra-day high of 59,457.58 points.

The market fell for the third session in a row. The Sensex lost 262.96 points or 0.44 percent on Wednesday.

The broader Nifty 50 of the National Stock Exchange was down 88.55 points, or 0.5 percent, at 17,629.80 points from the previous day’s 17,718.35 points.

The Nifty lost 97.90 points or 0.55 percent on Wednesday.

Stock markets around the world fell after the US Federal Reserve raised its policy interest rate by 75 basis points on Wednesday. The Fed also raised its target interest rate by three-quarters of a percentage point to 3 to 3.25 percent.

Banking stocks witnessed heavy selling pressure. HDFC Bank fell 2.18 percent 1485.70. Axis Bank fell 2.09 percent 789.10. ICICI Bank fell 1.37 percent 902.85. State Bank of India closed down 0.42 percent 567.40.

Index heavyweight Reliance Industries Ltd closed down 0.93 percent 2485.90.

Power Grid Corporation, Bajaj Finserv, Ultratech Cement, HDFC, Kotak Bank, Tech Mahindra and Tata Steel were among the top losers on the Sensex.

Titan rose 2.80 percent 2739.80. Hindustan Unilever jumped 2.64 percent 2693.05.

Asian Paints, Maruti Suzuki, ITC, Dr Reddy’s Laboratories, Sun Pharma, Bharti Airtel and Mahindra & Mahindra were among the major Sensex gainers.

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