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Markets end down with US Fed tapering.

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.

Read: Fed tapering begins in US. Complete Story

Stock market down

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%).

Banks were the top losers. Kotak Mahindra Bank was down by more than 3.7%. ICICI Bank has also lost 3%. Financial major HDFC is down to 776 – down by 2.8%.

LT is down by 3% to close the trading at 1060. ONGC is also down by 2.7%.

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%.

Other major gainers on the index were Lupin and Ranbaxy which gained 2% each.

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.


 

 

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