The Bombay Stock Exchange Sensex extended losses for the third day on Thursday, ending 30 points lower at 32,370. The National Stock Exchange Nifty also finished ended 19 points down at 10,121.
The decline in the markets has been attributed to foreign fund outflows after the United States Federal Reserve on Wednesday hinted at increasing the interest rate once again this year. The US central bank also said it would start trimming its balance sheet in October. As was widely anticipated, the monetary policy panel left the rates unchanged.
The top five gainers at the BSE on Thursday were Dr Reddy’s Laboratories, Cipla, Lupin, Sun Pharma and HDFC. The top five losers were Tata Motors (DVR), ICICI Bank, Axis Bank, Coal India and ONGC.
The five top performers on the Nifty were Dr Reddy’s Laboratories, Cipla, Lupin, Sun Pharma and Tech Mahindra. The five stocks that dropped the most were Zee Entertainment, GAIL, Tata Motors (DVR), Indiabulls Housing Finance and HCL Technologies.
Other Asian indices showed a mixed trend on Thursday. Japan’s Nikkei 225 rose by 37 points, and the Taiwan TSEC 50 Index by over 59 points. However, the Shanghai SE Composite Index fell by over eight points and the Hong Kong Hang Seng by 6.89 points.
The Indian rupee fell to a two-month low, tracking losses in other Asian currencies after the US Federal Reserve left rates unchanged. The Indian currency fell to 64.87 against the US dollar at 4.59 pm, from 64.27 on Wednesday.