Sensex extends losses to 5th session, ends 139 pts lower; Nifty below 17,550

Indian equity indices ended in the red for the fifth consecutive day in a highly volatile market on Thursday after the minutes from the Federal Reserve meeting revealed that nearly all policymakers favoured a smaller interest rate hike.

The 30-share BSE benchmark Sensex declined 139 points or 0.23% to settle at 59,605.80. The broader NSE Nifty fell 43 points or 0.25% to end at 17,511.

In the Sensex pack, Asian Paints, L&T, Titan, IndusInd Bank and Bharti Airtel were the top laggards, falling about 1-3% each. On the flip side, Axis Bank, SBI, Tata Motors, Tata Steel and ITC closed with gains.

Adani stocks continued to be under selling pressure with 8 out of 10 counters in the red zone. Adani Green Energy, Adani Power, Adani Total Gas, and Adani Transmission ended with a 5% lower circuit.

Sector-wise, Nifty Realty fell 1.78% and Nifty Media declined 1.77%, whereas, PSU banks, FMCG and metal stocks closed higher. In the broader market, Nifty Midcap50 dropped 0.14%, while Smallcap50 rose 0.40%.

Global Markets
Global stock markets were mixed Thursday after notes from a Federal Reserve meeting showed officials expect more US interest rate hikes to fight stubborn inflation.

In Asia, the Shanghai Composite Index lost 0.5% to 3,276 and the Hang Seng in Hong Kong fell 0.5% to 20,323. The Kospi in Seoul rose 1% to 2,442 after South Korea's central bank left its key lending rate unchanged.

The blue-chip FTSE 100 was down 0.3%, on track for its third straight session of decline.

Crude Price
Oil prices edged up on Thursday, after Brent crude posted its biggest single-day loss in seven weeks the day before, as market players reassessed prospects for supply and demand.

Brent crude futures rose 41 cents, or 0.5%, to $81.01 per barrel. West Texas Intermediate crude futures (WTI) advanced 38 cents, also 0.5%, to $74.33.

Rupee Weakens
The Indian rupee rose against the dollar, as Asian currencies made some headway following losses fuelled by worries over rising US yields. The rupee finished at 82.73 per dollar, compared with 82.85 in the previous session, which was its weakest closing level so far this month.

(With inputs from agencies)