Markets have witnessed selling trades across all sectors, following the news about the US Fed tapering. Yesterday the US Fed announced that it would begin the tapering process by withdrawing $10 billion worth of bond buying starting from January next year.
However the Indian markets had not taken well the news of tapering, despite the US markets closing in green after the announcement of tapering by the Fed chairman Ben Bernanke.
The Sensex and the Nifty were in the red right from the beginning of the trade today. The Nifty finally closed 50 points down at 6166 (-0.8%), while the Sensex happened to close 150 points down at 20,708.62 (-0.73%).
IT stocks were however trading on the higher side today. Many of the major stocks made lifetime highs in today’s trade. HCL Tech gained over 3.2% to touch 1236, followed by Maruti Suzuki which gained 3%.
Metal major Sesa Sterlite also gained 2% in the trade today.
Dish TV sank 4% in today’s trade , after following a news item that the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has barred company’s on-request offering of IndiaCast UTV channels.