Sensex, Nifty Decline; Power Grid Loses Nearly 3% : Mid-Day Market Update
Among the Nifty 50 constituents, 14 stocks rose, while 36 fell.
India's stock benchmarks declined, tracking a slide in global equities after the U.S. Federal Reserve hiked interest rate by 75 basis points.
The Sensex lost more than 430 points, or 0.7%, to 59,021.03. The Nifty 50 fell to 17,589.05 as of 1:30 p.m. on Thursday. Among the Nifty 50 constituents, 14 stocks rose, while 36 fell.
Financial services, energy and realty stocks were among the laggards.
Hindustan Unilever Ltd., Eicher Motors Ltd., ITC Ltd., Asian Paints Ltd. and Adani Ports and Special Economic Zone Ltd. were among the top gainers.
Bajaj Finserv Ltd., Power Grid Corp., SBI Life Insurance Co., Shree Cement Ltd. and HDFC Life Insurance Co. were among the top losers.
The broader indices outperformed their larger peers. The mid-cap gauge lost 0.25%, while the small-cap index fell 0.12%. Barring FMCG, all the other 18 sectoral indices compiled by BSE Ltd. declined, with energy, financial services, bankex, oil & gas and realty falling more than 1%.
The market breadth was skewed in favour of the bears. About 1,366 stocks rose, 1,948 fell and 151 remained unchanged.