Stock Future India's BSE was the
worst performing equity market today and pared most of the previous session's
gains even as the US Federal Reserve was dovish in its QE tapering and gave
indications that interest rates will be hiked in 2015. After gaining over 100 points, the
S&P BSE Sensex pared early morning gains and slipped a little over 370
points from its intraday high of 21,017 on Thursday.
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The BSE Realty index slipped 0.9 per
cent, while the BSE Auto index inched 0.6 per cent lower.Among the 30-share Sensex components, ICICI Bank BSE -3.03 % and HDFC slipped
more than 2 per cent in trade. ICICI Bank was trading 2.3 per cent lower at Rs
1071.40 and HDFC was down 2.1 per cent.
Other banking stocks which were trading lower include State Bank of India BSE -2.20 % which was down 1.8 per cent to Rs 1731.70, followed by HDFC Bank BSE -1.60 % which was trading 1.03 per.
Other banking stocks which were trading lower include State Bank of India BSE -2.20 % which was down 1.8 per cent to Rs 1731.70, followed by HDFC Bank BSE -1.60 % which was trading 1.03 per.
According to dealers, some funds
seemed to have off-loaded long positions in the Nifty basket after the gap-up
start. Any further selling could trigger stop losses and lead to sharp
sell-off.
US markets which closed at record
highs after the central bank left its target interest rate near zero "at
least as long as" unemployment exceeds 6.5 per cent, provided enough
enthusiasm to lift Asian markers.
Sensex which slipped over 200 points
in trade was trading at 20,691 or 0.8 percent lower. The index touched a high
of 21,017.45 and a low of Rs 20,646.03. The Nifty index was trading 34 points
lower or 0.9 per cent at 6161.35. The index touched a high of 6,263.75 and a
low of 6,150.70 in trade today.
The decline in the index was largely led by rate-sensitive pack. The BSE Banking index was trading 1.62 per cent lower, while BSE Capital Goods index was down 1.63 per cent.
The decline in the index was largely led by rate-sensitive pack. The BSE Banking index was trading 1.62 per cent lower, while BSE Capital Goods index was down 1.63 per cent.
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