The benchmark stock indices lost by more than one per cent on Monday, following the US Federal Reserve indicated that it would hike interest rates in this year if the US economy improves as it expects.
The 30-share BSE Sensex closed at 27643.88 with a loss of 313.62 points or 1.12 per cent.
“Tracking mixed global cues and weak earnings from FMCG major ITC, equity benchmarks made a weak start on Monday and ended with a cut of over a per cent,” said Jayant Manglik, President-retail distribution, Religare Securities Ltd.
In line with correction in benchmarks, sectoral indices too remained under pressure and majority closed in red by the end.
On the NSE 50-share Nifty closed at 8370.25 with a loss of 88.70 points or 1.05 per cent. “After decline in index on Monday, we feel this fall may extend further, followed by consolidation,” Mr. Manglik added.
Rupee ended at 63.57 per US dollar compared to its previous close of 63.52 on Friday last.
