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Yellen's comments spook markets
Highlights
The stock markets fell almost one per cent at the closing on Thursday, influenced by weak FMCG, auto and bank stocks. The investors worried over US Fed rate hike in December that may dampened the sentiment.
Mumbai: The stock markets fell almost one per cent at the closing on Thursday, influenced by weak FMCG, auto and bank stocks. The investors worried over US Fed rate hike in December that may dampened the sentiment.
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Fed Chair, Janet Yellen, has hinted at the possibility of interest rate hike in its forthcoming monetary policy meet to be held in December 15-16, pointing at the confidence in the US economy.
Sensex closed at 25,886, down 231 points, and Nifty fell 67 points ended at 7,864. Meanwhile, the broader market also reported fall with midcap index down 0.4 per cent and smallcap index declined 0.5 per cent.
Following heavy rains, the shares of IT and auto companies operating out of Chennai were hit badly. The share prices of Apollo Tyres, Chennai Petroleum, TVS Motors, TCS, Infosys etc, down up to 2 per cent.
Others which down include: Lupin, ICICI Bank, SBI closed down between 1 per cent and 3 per cent. Heavyweight RIL gained marginally after the rating agency recommend 'buy' with a target of Rs 1,230 a share, while ONGC was down 2.7 per cent as consulting agency reported doubting the future production from its five discoveries.
The gainers: Axis Bank, up 0.70 per cent at Rs 462.40; NTPC, up 0.56 per cent at Rs 133.85; Maruti, up 0.17 per cent at Rs 4,627.75 and HDFC Bank, up 0.05 per cent at Rs 1075.65.
The losers: ONGC, down 2.65 per cent
at Rs 229.55; Lupin, down 2.64 per cent at Rs 1,821.25; BHEL, down 2.48 per cent at Rs 168.80 and Vedanta, down 2.23 per cent at Rs 92.15.
Our Bureau
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