Market Roundup: Sensex plunges over 1,000 points, Nifty settles below 15,400; metal down over 5%

Domestic market indices plunged sharply on Thursday, 16 June, after an interest rate hike of 75 basis points by the US Federal Reserve. BSE Sensex erased early gains and slid over 1,000 points to 51,495.79. NSE Nifty 50 hit a 52-week low during the session, later ending at 15,360.60. The markets extended their negative streak for the fifth successive session as US Federal Reserve Chair Jerome Powell warned of further hikes if the inflation levels do not come down. With a 75 bps hike, the Federal Open Market Committee has taken the benchmark funds rate to the range of 1.50-1.75 percent. Asian markets also largely erased early gains as fears of recession unnerved investors. Rising oil prices, continued FII selling and possibility of other central banks following the lead of the US Federal Reserve to hike rates also left traders worried. BSE Midcap and Smallcap indices slid over 2 percent. India VIX rose to 22.87 levels. All sectors bled, with metal falling over 5 percent. Media fell over 3 percent, while banking, IT, realty and consumer durables declined between 2 and 3 percent. Bombay Stock Exchange (BSE): BSE Sensex plummeted 1.99 percent or 1,045.60 points to 51,495.79. Nestle India was the only gainer. Tata Steel, Tech Mahindra, Bharti Airtel, Wipro and IndusInd Bank were the biggest losers. Top BSE gainers: Nestle India: The stock gained Rs 16,872.80, up by 0.30 percent. Top BSE losers: Tata Steel: The shares tanked 6.04 percent to Rs 901.70. Tech Mahindra: The value of the company plummeted 4.37 percent to Rs 975.50 per equity. Bharti Airtel: The stock slid to Rs 653.95, down by 4.11 percent. Wipro: The shares settled 4.04 percent lower at Rs 422.40. IndusInd Bank: The company slumped to Rs 809.55 per equity, falling by 3.96 percent. National Stock Exchange (NSE): NSE Nifty 50 plummeted 2.11 percent or 331.55 points to 15,360.60. Bank Nifty tanked 2.17 percent to 32,617.10. Top NSE gainers: Nestle India: The shares jumped 0.50 percent to Rs 16,887.00. Britannia: The stock inched up 0.17 percent to Rs 3,391.10. Top NSE losers: Hindalco: The value of the company plunged 6.74 percent to Rs 333.40 per equity. Tata Steel: The shares plummeted to Rs 898.65, down by 6.35 percent. ONGC: The stock slumped to Rs 143.20, falling 5.42 percent. Coal India: The value of the company settled 5.39 percent lower at Rs 179.80 per equity. Tata Motors: The shares tanked 5.10 percent to Rs 393.00. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .

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