Terrible Thursday: Sensex Sheds 880 Pts, IT Stocks Crack, India VIX Zooms 7%
By Malvika Gurung
Investing.com — The domestic market ended a volatile session lower on Thursday after making a negative opening, tracking pessimistic sentiments from global markets amid a hawkish outlook by the US Fed at its monetary policy announcement on Wednesday, forecasting higher rates for a longer period.
Indian equity benchmark indices fell under pressure and declined sharply especially towards the last hour of trading on Thursday.
tanked 1.32%, closing near the 18,400 level at 18,414.9, while shed 878.88 points, sliding below the 62,000 mark to close at 61,799.03. The market volatility barometer zoomed 6.57% to 13.73.
All sectoral indices under the Nifty umbrella ended deep in red, led by , while and followed suit. tanked 1.25%.
Only 5 stocks on the 50-scrip Nifty index ended the session in green, led by Britannia (NS:), Hero Moto and NTPC (NS:), while industry heavyweights Infosys (NS:), Tech Mahindra (NS:) and Titan (NS:) headed the loss.
Barring Sun Pharmaceuticals (NS:) and NTPC, all the constituents of Sensex ended the session in red.
While a 50 bps benchmark rate hike was anticipated by the Street on Wednesday after a two-day FOMC policy meeting, the Fed’s hawkish outlook on economic projections of increasing unemployment and economic growth nearly stalling, soured the market mood.
Read Also: Experts Hour – Nifty Outlook, D-St’s Resilience Amid Global Weakness, INR Levels
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By Malvika Gurung
Investing.com — The domestic market ended a volatile session lower on Thursday after making a negative opening, tracking pessimistic sentiments from global markets amid a hawkish outlook by the US Fed at its monetary policy announcement on Wednesday, forecasting higher rates for a longer period.
Indian equity benchmark indices fell under pressure and declined sharply especially towards the last hour of trading on Thursday.
tanked 1.32%, closing near the 18,400 level at 18,414.9, while shed 878.88 points, sliding below the 62,000 mark to close at 61,799.03. The market volatility barometer zoomed 6.57% to 13.73.
All sectoral indices under the Nifty umbrella ended deep in red, led by , while and followed suit. tanked 1.25%.
Only 5 stocks on the 50-scrip Nifty index ended the session in green, led by Britannia (NS:), Hero Moto and NTPC (NS:), while industry heavyweights Infosys (NS:), Tech Mahindra (NS:) and Titan (NS:) headed the loss.
Barring Sun Pharmaceuticals (NS:) and NTPC, all the constituents of Sensex ended the session in red.
While a 50 bps benchmark rate hike was anticipated by the Street on Wednesday after a two-day FOMC policy meeting, the Fed’s hawkish outlook on economic projections of increasing unemployment and economic growth nearly stalling, soured the market mood.
Read Also: Experts Hour – Nifty Outlook, D-St’s Resilience Amid Global Weakness, INR Levels