A benchmark index for Indian equities, the sensitive index (Sensex) of the Bombay Stock Exchange closed 231.23 points, or 0.89 percent down, as comments from US Federal Reserve Chair Janet Yellen has strengthened speculation of an interest hike later this month.
The 30-share Sensex, which opened at 26,123.86 points, closed at 25,886.62 points -- down 231.23 points, or 0.89 percent, over the previous trading day's close at 26,117.85 points. It touched a high of 26,123.86 points and a low of 25,857.35 points in Thursday's trade.
The wider Nifty of the National Stock Exchange also closed 67.20 points or 0.85 percent lower at 7,864.15 points.
"The market took cues from the global peers and extended the losing streak. Global investors are sensing that the era of near zero interest rates is coming to an end this month after the FED chairman expressed her confidence about the US economy," said Vinod Nair, head, Fundamental Research, Geojit BNP Paribas Financial Services
"This is resulted in a pull back by global funds in the emerging markets. In addition, concerns over today's (Thursday) ECB policy meet also influenced the market direction," he added.
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"Markets continue to see selling pressure on its third consecutive trading session. US Fed Chair Janet Yellen's speech last (Wednesday) night indicating a certain hike in its meet during mid of the current month and continued fall in crude prices has dampened the sentiments globally," said Gaurav Jain, director, Hem Securities.
In Thursday's trade, heavy selling pressure was seen in fast moving consumer goods (FMCG), consumer durables and metal sectors. Among the sector-specific indices of the Mumbai bourse, FMCG index tanked by 1.48 percent, consumer durables index dropped by 1.43 percent and metal index went down by 1.35 percent.
The 100-scrip and 200-scrip indices were down by 0.81 percent and 0.77 percent, respectively. Mid-cap index was down by around 0.42 percent and small-cap stocks ended 0.50 percent lower.
The major Sensex gainers on Thursday were: Axis Bank, up 0.70 percent at Rs.462.40; NTPC, up 0.56 percent at Rs.133.85; Maruti, up 0.17 percent at Rs.4,627.75 and HDFC Bank, up 0.05 percent at Rs.1075.65. The losers were: ONGC, down 2.65 percent at Rs.229.55; Lupin, down 2.64 percent at Rs.1,821.25; BHEL, down 2.48 percent at Rs.168.80 and Vedanta, down 2.23 percent at Rs.92.15.
Among the Asian markets, Japan's Nikkei went up by 0.01 percent and China's Shanghai Composite Index gained by 1.37 percent, while Hong Kong's Hang Seng was lower by 0.28 percent. In Europe, London's FTSE 100 was up by 0.32 percent, France's CAC 40 gained by 1.31 percent, and Germany's DAX Index was higher by 0.89 percent at the closing in the Indian markets.
