Bourses decline for second straight day in tandem with a lacklustre trend overseas

Update: 2022-11-03 17:06 GMT

Mumbai: Market benchmarks stayed on the backfoot for the second session on the trot on Thursday, in tandem with a lacklustre trend overseas after the US Fed delivered the fourth straight 75-bps interest rate hike to tame scorching inflation.

The 30-share BSE Sensex declined 69.68 points or 0.11 per cent to settle at 60,836.41. During the day, it tanked 420.95 points or 0.69 per cent to 60,485.14.

Similarly, the broader NSE Nifty dipped 30.15 points or 0.17 per cent to end at 18,052.70.

Tech Mahindra was the top laggard in the Sensex pack, dropping 2.66 per cent, followed by PowerGrid, NTPC, Infosys, Wipro, M&M and TCS.

In contrast, SBI, Titan, Bharti Airtel, Tata Steel, HUL and IndusInd Bank were among the winners, climbing up to 1.89 per cent.

In the broader market, the BSE midcap gauge climbed 0.22 per cent and the smallcap index advanced 0.11 per cent.

Among BSE sectoral indices, utilities declined 1.26 per cent, power dipped 1.18 per cent, IT fell 1.13 per cent, teck (0.80 per cent) and consumer discretionary (0.25 per cent).

Bankex, energy, FMCG, financial services and realty ended in the green.

Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended lower.

Stock exchanges in Europe were trading in the negative territory in mid-session deals. Wall Street had ended significantly lower on Wednesday.

International oil benchmark Brent crude was trading 1.16 per cent lower at $95.04 per barrel.

The rupee depreciated by 8 paise to close at 82.88 against the US dollar on Thursday.

Foreign Institutional Investors (FIIs) were net buyers on Wednesday as they bought shares worth Rs 1,436.30 crore, as per exchange data. 

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