The Hindu Business Line
Sensex ends lower as Fed concerns persist
Sandwiched in a tight range, the Sensex closed down for the third day as prospects of more US interest rate hikes next year continue to keep investors on edge. Dealers said domestic institutions too were not supporting the markets with any aggressive buying.
Volume remained low as participants preferred to stay near the fence in the absence of any positive cues. Bharti Airtel fell the most in the Sensex group dropping 2.67 per cent, followed by ONGC at 2.30 per cent.
Others such as Adani Ports, ICICI Bank, ITC, Hero MotoCorp, Tata Steel, Axis Bank, Wipro, Coal India, Lupin, Bajaj Auto, GAIL, NTPC and Dr Reddy’s too retreated.
Most software shares ended higher due to weakening of the rupee versus the dollar after the rate hike in the US.