Equity benchmark indices traded lower during early hours on Thursday tracking losses across Asian peers, a day after the US Federal Reserve projected at least two interest rate hikes in 2023.
At 10:15 am, the BSE S&P Sensex was down by 125 points or 0.24 percent at 52,377 while the Nifty 50 slipped by 43 points or 0.27 percent to 15,724.
Except for Nifty realty, all sectoral indices at the National Stock Exchange were in the negative territory with Nifty metal and financial service down by 0.7 percent, private bank by 0.6 percent, and auto by 0.3 percent.
Among stocks, Adani Ports tumbled by 2.1 percent to Rs 691.70 per share. Axis Bank dipped by 0.9 percent, ICICI Bank by 0.8 percent, and HDFC Bank by 0.7 percent.
HDFC, Bajaj Finance, Hindalco, Hero MotoCorp, and Maruti Suzuki also traded lower with slim margins.
However, Reliance Industries gained by 0.6 percent to Rs 2,224.60 per share. Nestle India, Asian Paints, Eicher Motors, and Tata Steel too traded in the green.
Meanwhile, Asian equities fell to a three-week low after the US Fed Reserve stunned investors by signalling it might raise interest rates at a much faster pace than assumed.
MSCI’s broadest index of Asia Pacific shares outside Japan was down about 0.6 percent to its lowest since late May.
Japan’s Nikkei fell 1 percent and S&P 500 futures were 0.4 percent lower in Asian trade. (ANI)