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Sensex, Nifty Snap Three-day Winning Run
(RTTNews) - Indian shares ended lower on Thursday to snap a three-day winning streak after the U.S. Federal Reserve signaled that two more rate increases are on the way. The dollar traded higher and Treasury yields rebounded after the Federal Reserve held interest rates steady on Wednesday, as widely expected, but signaled that borrowing costs will likely rise by another half of a percentage point by the end of this year.
Disappointing data from China also rekindled concerns about the global economic outlook.
The benchmark S&P/BSE fell 310.88 points, or 0.49 percent, to 62,917.63 after gaining for three consecutive sessions. The broader NSE Nifty index dropped 67.80 points, or 0.36 percent, to 18,688.10.
Auto, banking and IT heavyweights were the top drags, with Kotak Mahindra Bank, SBI, IndusInd Bank, Wipro and Hero MotoCorp falling 2-4 percent.
Healthcare stocks outperformed, with Cipla, Dr Reddy's Laboratories, Divis Laboratories and Apollo Hospitals Enterprise rallying 2-4 percent. Property developers rose in a subdued market, with Brigade Enterprises and Godrej Properties climbing 3-4 percent.
Higher Open Anticipated For China Stock Market
Win Streak May Continue For Taiwan Stock Market
Singapore Shares May Test Resistance At 3,900 Points
Malaysia Bourse Tipped To Return To The Upside
Nikkei May Crack Resistance At 38,000 Points
Tech Shares Likely To Power KOSPI
New Zealand Card Retail Sales Data Due On Tuesday
