Sensex down 440 pts, Nifty at 19,700 level

Hi everyone, I am Neha Vashishth from ET Markets. Welcome back to ET MARKET WATCH. Let's start with the highlights <br> <br>- Although global markets advanced post-Fed hike, Sensex and Nifty reversed their early gains and ended in the red today <br>-Sensex declined 440 pts and settled at 66,267 <br>-Nifty was down 0.60% at 19,700 <br> <br>Gainers and losers <br>M&M was the top loser and fell 6% after the company disclosed plans to expand in the banking sector by picking a stake in RBL Bank. Tech Mahindra, Nestle, Bajaj Finance, Axis Bank, JSW Steel, Kotak Bank and ITC also ended in the red. <br> <br>Sun Pharma, Bharti Airtel, Tata Motors, L&T, Infosys, TCS, NTPC, and Tata Steel closed higher. <br> <br>Shares in news <br>-Cipla ended 9.6% higher after the firm reported a 45% year-on-year (YoY) growth in consolidated net profit for the June 2023 quarter to Rs 996 crore. <br> <br>-RVNL shares closed 6% lower after the government launched an offer for sale (OFS) to pare its stake in the company by up to 5.36%. <br> <br>On the sectoral front, Nifty Auto, Nifty Bank, Financial, FMCG, IT, and metal sectors closed lower. In the broader market, Nifty Midcap100 gained 0.27%, while Smallcap100 ended flat. <br> <br>Global Markets <br>World shares were mostly higher after the Federal Reserve raised interest rates to their highest level in more than two decades <br> <br>Tokyo's Nikkei 225 index gained 0.7%, and the Hang Seng in Hong Kong jumped 0.9%. The Shanghai Composite index slipped 0.3%, while South Korea's Kospi climbed 0.4%. <br> <br>Crude oil and rupee <br>Oil prices rose due to supply tightness owing to OPEC+ production cuts and renewed optimism on the outlook for Chinese demand and global growth. <br><br>Brent crude advanced 0.86%, to $83.27 a barrel, while US WTI crude rose 1.12%, to $79.66. Rupee ended slightly higher as broad weakness in the greenback and corporate dollar inflows helped offset demand from importers. The rupee ended at 81.93 against the dollar,<br>