Science

Sensex Ends Flat, HCL Tech Falls 5%; Kotak Mahindra Bank Rises 4%

Sensex Ends Flat, HCL Tech Falls 5%; Kotak Mahindra Bank Rises 4%

The benchmark BSE Sensex fell 187.76 points or 0.5 percent to 34,915.38 while the NSE Nifty dropped 61.40 points or 0.57 percent to 10,618.25.

According to market observers, heavy selling pressure was witnessed in the auto, healthcare and metal stocks.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) ended in the red on Thursday.

The Sensex touched a high of 35,257.31 points and a low of 35,020.08 during the intra-day trade. The market breadth was weak as 1,779 shares fell and 919 shares rose on the BSE. "The weakness seemed to have come on the back of negative global cues", Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

On Thursday, Asian indices were showing a negative trend.

USA dollar off day's highs, Treasury yields fall after Fed statement
The decision to maintain the federal funds target range at 1.5 per cent to 1.75 per cent was a unanimous 8-0. The Fed made its announcement Wednesday, following a two-day meeting of its Federal Open Market Committee.

"Market was volatile even after 10-yr domestic bond yield slid and rupee strengthened following Fed's dovish monetary policy".

BSE benchmark Sensex rose almost 200 points in opening trade today only to turn cautious tracking negative global cues ahead of the US Federal Reserve policy announcement scheduled later in the day. Market participants booked profits at higher levels in opening trade, brokers added.

On the currency front, the Indian rupee strengthened by one paise to 66.65 against the U.S. dollar from its previous close at 66.66. The index had gained almost 12 percent in the previous month on the back of a weaker rupee and strong earnings from IT majors.

On the positive side, Axis Bank, NTPC, Tata Steel, Infratel and Sun Pharma climbed 2-4 percent. The Nifty, however, was down by 21.30 points or 0.20 per cent.

Airtel (+2.5%), Indiabulls HF (+1%), HUL (+0.96%), Yes Bank (+0.59%) and Dr.Reddy's (+0.58%) were the top gainers on Nifty50.