CLOSING BELL
Sell-off in the equity markets intensified in late noon deals as investors dumped shares across sectors. Sentiment remained tepid across global markets after the US Federal Reserve (US Fed) hinted interest rates to peak above 5 per cent by the end of 2023. Moreover, the central bank raised interest rates by 50 basis points (bps) in its December meeting to 4.25-4.5 per cent, the highest since 2007.
Stock market highlights:
The S&P BSE Sensex cracked 879 points, or 1.4 per cent, to settle at 61,799. The Nifty50, meanwhile, slipped below the 18,450 level to close at 18,415, down 245 points or 1.32 per cent.
The 30-pack index had dropped over 900 points intra-day to hit a low of 61,715.61, while the 50-pack index hit a low of 18,388.
Only 2 stocks — Sun Pharma and NTPC — managed to held onto their gains on the Sensex, while five advanced on the Nifty, including Britannia Industries, Hero MotoCorp, SBI Life, and M&M.
In the broader markets, the BSE MidCap index declined by 1.05 per cent, while the BSE SmallCap index dipped 0.6 per cent.
Global stocks retreated Thursday as global markets dip following the US Federal Reserve’s latest policy update. The pan-European Stoxx 600 was down 1.2 per cent in early trade, with retail stocks shedding 2 per cent to lead losses as all sectors and major bourses slid into negative territory.
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