SENSEX SNAPS ON HAWKISH FED OUTLOOK

Mumbai, June 14: Equities reversed a threesession winning run on Thursday after the US Fed raised interest rates and struck a hawkish stance, souring appetite for emerging market assets.

Trading sentiment was further dented after data showed wholesale inflation shot up to a 14-month high of 4.43 per cent in May, while the current account deficit jumped over three times to $48.7 billion, or 1.9 per cent of the GDP, in FY18.

The Sensex tumbled over 139 points to finish at 35,599.82. The broader NSE Nifty shed 48.65 points to 10,808.05.

Global markets reeled after the US Fed raised its key interest rate by 0.25 per cent on Wednesday, the second increase of the year, and signalled two more hikes in 2018 and four in 2019.

Investors are also awaiting ECB’s policy rate decision.

The Sensex saw a slightly better start and advanced to a high of 35,749.88, but soon turned lower in line with a weak trend at other Asian markets. — PTI