For Quick Alerts
For Daily Alerts

Markets fall as Fed begins scaling back QE3


Markets fall as Fed begins scaling back QE3
Markets which opened the day higher lost ground after investors booked profit following the Federal Reserve's decision to begin scaling back its stimulus programme or QE3.To read more about QE3 click here


The Sensex was last trading lower by 48 points, while the Nifty lost 13 points in early trade. Banking stocks which had rallied substantially in trade on Wednesday dropped as profit taking began in select stocks.

Banking stocks that lost ground in trade were ICICI Bank, State Bank of India, Canara Bank and Union Bank of India.

Kotak Mahindra Bank was last trading 1.6 per cent lower in trade. Heavyweight, Reliance Industries was also trading lower, while software stocks were marginally positive. Among the software stocks that gained in trade were HCL Tech, Infosys and Tata Consultancy Services.

Bharti Airtel which had gained more then 4 per cent in trade on Wednesday fell and was trading 1 per cent lower.

Pharma stocks were also trading lower with Cipla, Dr Reddy's among the early losers in trade. The mid cap index was trading higher with stoks like GMR and Jubilant Foodworks among the gainers in trade.

Meanwhile, Asian markets including the Shanghai Composite and the Hang Sang, which had rallied in trade fell after profit taking began setting in.

Story first published: Thursday, December 19, 2013, 9:32 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more