Mumbai: Domestic stock markets fell for the second consecutive day today on the prospect of a hike in interest rates by the US Federal Reserve.
BSE’s 30-share sensitive index Sensex fell 178.65 points, or 0.34 percent, to 52,323.33 and the National Stock Exchange’s Nifty closed 76.15 points, or 0.48 percent, down at 15,691.40.
The Fed has predicted a 0.6 percent increase in policy interest rates by 2023. It has said that the labor market is expected to improve and unemployment will decrease in the coming times.
Except IT, tech and FMCG, other sector companies dominated the sell-off. This also put pressure on medium and small companies. The BSE Midcap ended 1.29 per cent lower at 22,396.07 points. Smallcap index of smaller companies also fell 0.58 percent to 24,868.93 points.
Shares of 20 out of 30 Sensex companies remained in red mark and remaining 10 in green mark. IndusInd Bank was the biggest loser at 2.91 per cent. Dr. Reddy’s Lab’s shares fell 2.17 percent, NTPC 2.13 percent and Maruti Suzuki’s 2.02 percent.
