Markets slip further as Sensex falls back to 35000-levels

Sensex today Kotak Bank jumps 3% HCL Tech slips 4% post Q4 index trades higher ahead of US Fed meet

Indian shares opened flat to slightly lower on Thursday, mirroring mixed cues from global markets after the U.S. Federal Reserve left interest rates unchanged but signaled that an interest rate hike is likely in June, saying the economy is improving and inflation has returned to normal. Find us on Facebook too!

The benchmark BSE Sensex was down 67 points or 0.19 percent at 35,109 while the broader Nifty index was down 12 points or 0.11 percent at 10,706.

Realty, capital goods, IT, teck, infrastructure, FMCG, consumer durables, oil and gas and auto suffered as participants pulled money off the table.

The index had risen 675.15 points in the past four sessions, spurred by sustained buying by domestic institutional investors (DIIs) and encouraging quarterly earnings by some companies.

The Sensex ended 16.06 points, or 0.05 per cent higher at 35,176.42 while the Nifty-50 shed 21.30 points, or 0.20 per cent to settle at 10,718.05. During the day, it shuttled between 10,720.60 and 10,647.45.

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The rupee edged one paisa higher to 62.63 against the US dollar in early trade today after the greenback weakened overseas ahead of monthly US jobs report and China-US trade meet outcome.

Brokers said markets are expected to be range-bound as investors are awaiting the outcome of the US Fed's two-day meeting later in the day as well as results of some more bluechips.

"Back home, results and upcoming state election will give near term direction". Another private sector bank, Axis Bank, rose 1.5 per cent. HDFC and HDFC Bank rose over 1 per cent.

So far, the major gainers on the BSE were Adani Ports, IndusInd Bank, ONGC, HDFC Bank, ICICI Bank and while Sun Pharma, Bharti Airtel, Bajaj Auto, Infosys and Yes Bank were the major losers. The Bankex was down 0.13 per cent but the Finance Index was up 0.01 per cent.

In the broader market, the S&P BSE mid-cap declined by 1.16 per cent while the S&P BSE small cap fell 0.84 per cent.

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