Markets drop for fifth day, Sensex Nifty Down on Fed hike fears

Markets drop for fifth day, Sensex Nifty Down on Fed hike fears

BSE Sensex lost 139.18 points to 59,605. (File)


Falling for the fifth consecutive session, the benchmark Sensex and Nifty stock indices fell on Thursday on concerns that the US Federal Reserve will raise interest rates further to curb inflation.

Fresh outflows of foreign funds and generally weak trends in Asian markets also affected investor sentiment, traders said.

In a highly volatile trade amid monthly derivatives expiry, the BSE Sensex fell 139.18 points or 0.23% to settle at 59,605.80. During the day, it reached a high of 59,960.04 and a low of 59,406.31.

The NSE Nifty slipped 43.05 points or 0.25% to end at 17,511.25.

In the Sensex pack, Asian Paints, Larsen & Toubro, Titan, IndusInd Bank, Bharti Airtel, Power Grid, Bajaj Finserv, Infosys, HDFC Bank and HDFC were the main laggards.

On the other hand, Axis Bank, Tata Motors, ITC, State Bank of India, Tata Steel and Sun Pharma were among the winners.

In Asian markets, China and Hong Kong settled lower, while South Korea ended higher. Japanese markets were closed for a holiday.

European stocks were mostly trading in the green during afternoon trading.

US markets ended on a mixed note on Wednesday.

Meanwhile, the Rupee appreciated 15 paise to close at 82.73 (provisional) against the US Dollar on Thursday.

The international oil benchmark, Brent, rose 0.32% to $80.86 a barrel.

Foreign Portfolio Investors (REITs) unloaded shares worth Rs 579.82 crore on Wednesday, according to data from the exchange.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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