REUTERS - The BSE Sensex fell more than 1 percent on Thursday, heading for their fifth fall in six sessions, reflecting the negative sentiment across the globe after the Bank of Japan refrained from taking further stimulus steps.
The BOJ's action came after the U.S. Federal Reserve left interest rates unchanged overnight as widely expected, while warning slower economic growth would crimp the pace of monetary policy tightening in future years. The U.S. central bank still stuck to its plan to raise rates twice in 2016.
The BOJ's decision comes amid fears about the impact of Britain's June 23 referendum on whether it should exit the European Union.
"In short term, I expect volatility to continue," said Abhishek Jain, head of research, KR Choksey Securities.
"Even in safe stocks, there is going to be impact of Brexit in many companies, as there is cross currency. People are looking at books and gains and buying at lower levels."
The broader NSE Nifty was down 1.13 percent at 8,113.91 as of 0753 GMT, while the benchmark BSE Sensex was 1.11 percent lower at 26,428.64.
Losses were across the board, with only six of the Nifty 50 stocks trading higher.
The NSE Bank Nifty, which rose 1.84 percent in the last two days, fell as much as 2.1 percent, with ICICI Bank
Software services exporters declined, with Infosys
(Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu)
