For Quick Alerts
For Daily Alerts

    Sensex, Nifty Slide On IT Growth Worries, Rate Hike Fears In US


    The Sensex and the Nifty dropped sharply in trade on worries that the US Fed would hike interest rates sooner then expected following robust employment data from the US. 

    The Sensex ended the day with loss of 604 points, while the Nifty closed the day lower by 181 points.

    Guidance by IT major TCS also did not help sentiments with the stock dropping almost 2 per cent in trade. Infosys and Wipro were the other IT stocks that fell following poor guidance from TCS.

    Sensex, Nifty Slide On IT Growth Worries, Rate Hike Fears In US

    Shares in Hindustan Unilever gained ground as investors shifted their attention to defensives. ITC, however fell marginally in trade.

    Mid cap stocks also saw a sharp decline with Bharat Forge and Jain Irrigation being among the top losers in trade.

    Hindalco was among the top loser from the Nifty despite bidding for the Dumri block. Container Corporation surged a huge 8 per cent after the RBI said that FIIs/RFPIs can now invest up to 34 percent in the company.

    Kernex Microsystems rallied after the board said it will consider proposal for sale of selected assets to finance new projects tomorrow.

    Meanwhile, markets across Asia fell sharply following fears of an interest rate hike. European markets managed to restrict losses as the QE begins to take effect.

    The German DAX was down 32 points, while the UK's FTSE was marginally down by 25 points.

    Read more about: sensex nifty
    Story first published: Monday, March 9, 2015, 15:39 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    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