By Malvika Gurung
Investing.com -- India's stock market had a weak trading session on Thursday following hawkish projections made by the Federal Reserve, as it hinted at possibilities of two more hikes going ahead, likely by 0.5% as inflation continued to run above target.
At 12:12 pm, headlines Nifty50 dipped 0.16% to 18,725.75 levels and Sensex lost 154.27 points or 0.24%. The market fear barometer India VIX advanced up to 1% to 11.25 levels while writing.
Broader market indices outperformed the benchmark peers as Nifty Smallcap 100 rose 0.4% and Nifty Midcap 100 climbed 0.33%.
Pharmaceutical and healthcare stocks drive gains on Dalal Street with Dr. Reddy’s Laboratories (NS:REDY), Divi's Laboratories (NS:DIVI) and Apollo Hospitals (NS:APLH) trading as top performers on the Nifty50 pack.
Sectoral indices listed under the Nifty umbrella traded mixed in Thursday’s session, with Nifty Pharma and Nifty Healthcare Index zooming 1.2% each. Nifty Bank declined 0.51%.
Market heavyweights M&M (NS:MAHM), Bharat Petroleum (NS:BPCL), Adani Enterprises (NS:ADEL), Maruti (NS:MRTI) and Cipla (NS:CIPL) added to the Street’s gains during the session, while IT and banking sectors’ mega-caps like Wipro (NS:WIPR), Infosys (NYSE:INFY) (NS:INFY), IndusInd Bank (NS:INBK), Kotak Mahindra Bank (NS:KTKM) and HDFC Life (NS:HDFL) exerted pressure, pulling the market lower.
Key US contracts Dow Futures slipped 0.11% and Nasdaq 100 Futures dropped 0.21%.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.