Stock market highlights: Equity market snap 3-day winning streak post US Fed Reserve outcome.

Stock market highlights: Equity market snap 3-day winning streak post US Fed Reserve outcome.

Ira Singh
15 June’23

The Indian equity indices snapped a 3-day winning streak on Thursday,after the US central bank held its funds rate steady,but the forecast from FOMC(Federal Open Market Committee) members shows that two additional rate hikes could be in the books for this year.

At close,the Sensex was down 306 points or 0.49% at 62,917.63,and the Nifty was down 72 points or 0.36% at 18,688.10.

Stocks and Sectors

Apollo Hospitals, Divis Laboratories, Dr Reddy’s Laboratories, Cipla and BPCL were the top gainers on Nifty, while losers included Hero MotoCorp, Wipro, IndusInd Bank, SBI and Kotak Mahindra Bank.

On sectoral front,the banking and realty indices were down nearly 1 percent each and the information technology index shed 0.5 percent. The pharma index gained 1.4 percent and the FMCG added 0.5 percent, according to sources.

The BSE midcap index rose 0.3 percent while smallcap index ended flat.

On 15th June’23,the Indian rupee falls 14 paise to close at 82.19 against US dollar.

Experts Take:
Market experts have recommended six stocks to buy for Thursday- Reliance, Tata Chemicals, ONGC, Paytm, AU Bank and Kotak Mahindra Bank.