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Sensex closes in the red as IT stocks drag

14 June, 2018

Indian shares snapped a three-session winning streak to end lower on Thursday, tracking Asian peers, a day after the U.S. Federal Reserve raised interest rates and struck a more hawkish tone in forecasting a slightly faster pace of tightening.

The Fed raised its benchmark overnight lending rate by a quarter of a percentage point to a range of 1.75 percent to 2 percent and forecast two additional hikes by the end of this year, compared with one previously.

The broader NSE Nifty ended 0.45 percent lower at 10,808.05, while the benchmark BSE Sensex closed 0.39 percent weaker at 35,599.82.

The Nifty IT index ended 1.5 percent lower, after marking six sessions of gains. The index was pulled down by Infosys Ltd, which closed 2 percent lower.

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Sensex closes in the red as IT stocks drag

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