Sensex, Nifty Extend Losses Post U.S Fed Outcome

Following cues from the global markets, the Indian equity markets further declined in the opening trade on Thursday, June 17. The U.S markets overnight ended majorly down after the U.S Fed hinted about hiking rates in the future.

The BSE Sensex opened down by 282.82 points at 52,219.16, while the Nifty was down 89.30 points at 15,678.20. The BSE Sensex witnessed just 6 advances and 24 declines in the morning trade. Shares of IndusInd Bank, Axis Bank, Bajaj Finance, and M&M declined over a per cent each at the market opening on Thursday.

Tracking the sectors, all major sectors witnessed selling pressure and slipped red at the market opening. The Banking and Financial stocks however contributed the most in the drag among all other sectors.

Among the broader markets, the BSE Midcap index was trading lower by above 100 points, while the Smallcap index was up over 50 points at the time of filing. Shares of Adani group were trading lower by 3-5 per cent despite a clear statement given by the company on the media reports.

In the overall market breadth, 1160 shares declined, 587 shares advanced, while 95 shares remained unchanged in the early trade on Thursday.

Ruchit Purohit

BW Reporters The author is a Trainee Journalist at BW Businessworld based in Mumbai. He tracks the Markets and related news.