Mumbai, India (BBN) – After falling over 140 points in the early session, the benchmark BSE Sensex recovered to trade 0.40 per cent higher on Thursday.
At about 10:20am, the Sensex was up 0.40 per cent or 107.08 points at 26,709.92 while the NSE Nifty was up 35.30 points or 0.43 per cent at 8,217.75, reports The Hindu Business Line.
The 30-stock gauge had lost about 95 points in the previous session.
The pull back was led by TCS (+2.75%), Tata Steel (+2.31%), Adani Ports (+1.87%), SBI (+1.62%) and Infosys (+1.6%).
Sun Pharma, Bharti Airtel, NTPC, Tata Motors and ITC were among the major losers.
Asian bourses continued to trade weak as the US Fed hiked interest rates by a quarter percentage point and indicated more to come next year.
A report by IFA Global said “Asian stock markets are trading on a negative note, with Hang Seng index trading lower by 372 points and Nikkei index is trading lower by 28 points after Fed hikes rates but remains measured about growth.US stock markets closed on a negative note, the Dow Jones Industrial Average closed lower by 118 points and Nasdaq index closed lower by 27 points. U.S. equities closed lower after Federal Reserve, in line with expectation, rose rates by 25bps.European stock markets closed on a negative note, with FTSE closed lower by 19 points and CAC lower by 34 points. European markets ended the day lower after industrial production contracted in October compared to contraction of 0.9% in the previous month.”
BBN/SS/AD