Mumbai: The BSE Sensex fell 581 points on Thursday amid a weak global trend. Markets declined amid signs of the US Federal Reserve tightening policy rates from March. The 30-share BSE Sensex closed at 57,276.94, down 581.21 points, or one per cent.
Similarly, the Nifty of the National Stock Exchange also closed at 17,110.15, down 167.80 points, or 0.97 per cent. Among the Sensex stocks, HCL Tech’s stock was the biggest loser, falling over four per cent. Apart from this, shares of Tech Mahindra, Dr. Reddy’s, Wipro, TCS, Titan and Infosys were also major losers.
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On the other hand, the gainers include Axis Bank, SBI, Maruti and Kotak Bank. The US Federal Reserve indicated on Wednesday that there is a lot of room for raising interest rates to control inflation. There is apprehension among investors that after the increase in the policy rate, foreign capital outflows from emerging countries like India will increase.
In other Asian markets, Shanghai Composite Index in China, Hong Kong’s Hang Seng, South Korea’s Kospi and Japan’s Nikkei ended in losses. Major markets in Europe also had a declining trend in afternoon trading. Meanwhile, international oil benchmark Brent crude fell 0.16 per cent to $89.82 a barrel. Foreign institutional investors sold shares worth Rs 7,094.48 crore on Tuesday, according to stock market data. (agency)