Sensex, Nifty Give Up Earlier Gains Amid F&O Expiry
(RTTNews) - Indian shares gave up earlier gains to end a tad lower on Thursday, as volatility on eve of derivative expiry offset firm cues from global markets.
Cues from Asia and Europe were positive after the U.S. Federal Reserve raised interest rates by 25 basis points, as widely expected, and downplayed the prospect of a U.S. recession this year.
In his post-meeting press conference, Fed Chair Jerome Powell noted that a rate cut is unlikely this year but the central bank will make decisions meeting by meeting after watching incoming economic data.
The benchmark S&P/BSE Sensex fell 440.38 points, or 0.66 percent, to 66,266.82 while the broader NSE Nifty index settled 118.40 points, or 0.6 percent, lower at 19,659.90.
Mahindra & Mahindra plunged 6.2 percent after it acquired a 3.53 percent stake in RBL Bank for Rs 417 crore.
Tech Mahindra tumbled 3.6 percent after its quarterly earnings missed Street estimates.
FMCG firms like Nestle India, Britannia Industries and Tata Consumer Products fell 2-3 percent.
Healthcare stocks surged, with Cipla rallying 9.8 percent after reports that its promoters are in talks with major private equity players to sell a part of their holding in the company.
Peer Sun Pharma climbed 2.3 percent, Divis Laboratories jumped 2 percent and Apollo Hospitals Enterprise added 1.3 percent.
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