AGL 5.60 Decreased By ▼ -0.18 (-3.11%)
ANL 8.90 Increased By ▲ 0.02 (0.23%)
AVN 76.85 Decreased By ▼ -2.07 (-2.62%)
BOP 5.26 Decreased By ▼ -0.02 (-0.38%)
CNERGY 4.63 Decreased By ▼ -0.07 (-1.49%)
EFERT 81.27 Decreased By ▼ -0.33 (-0.4%)
EPCL 50.08 Decreased By ▼ -0.83 (-1.63%)
FCCL 13.16 Decreased By ▼ -0.22 (-1.64%)
FFL 5.69 Decreased By ▼ -0.03 (-0.52%)
FLYNG 7.07 Decreased By ▼ -0.08 (-1.12%)
FNEL 4.79 Decreased By ▼ -0.03 (-0.62%)
GGGL 8.80 Decreased By ▼ -0.10 (-1.12%)
GGL 14.55 Decreased By ▼ -1.33 (-8.38%)
HUMNL 5.69 Decreased By ▼ -0.08 (-1.39%)
KEL 2.63 Decreased By ▼ -0.03 (-1.13%)
LOTCHEM 28.60 Decreased By ▼ -0.45 (-1.55%)
MLCF 24.49 Decreased By ▼ -0.61 (-2.43%)
OGDC 72.43 Decreased By ▼ -0.02 (-0.03%)
PAEL 15.36 Increased By ▲ 0.01 (0.07%)
PIBTL 5.00 Decreased By ▼ -0.05 (-0.99%)
PRL 16.10 Decreased By ▼ -0.19 (-1.17%)
SILK 1.08 Decreased By ▼ -0.01 (-0.92%)
TELE 9.14 Decreased By ▼ -0.23 (-2.45%)
TPL 7.23 Decreased By ▼ -0.10 (-1.36%)
TPLP 18.61 Decreased By ▼ -0.34 (-1.79%)
TREET 21.68 Decreased By ▼ -0.32 (-1.45%)
TRG 136.71 Decreased By ▼ -4.44 (-3.15%)
UNITY 16.88 Decreased By ▼ -0.14 (-0.82%)
WAVES 9.86 Decreased By ▼ -0.04 (-0.4%)
WTL 1.41 No Change ▼ 0.00 (0%)
BR100 4,225 Decreased By -29.6 (-0.7%)
BR30 15,518 Decreased By -214.7 (-1.36%)
KSE100 42,150 Decreased By -243.4 (-0.57%)
KSE30 15,588 Decreased By -75.7 (-0.48%)
Follow us

BENGALURU: Indian shares closed lower in volatile trading on Thursday as tensions over Ukraine outweighed the impact of the US Federal Reserve's less-than-feared hawkish stance, reflected in the minutes of its last policy meet.

The NSE Nifty 50 index fell 0.1% at 17,304, while the S&P BSE Sensex was down 0.18% at 57,892.01

Russian-backed rebels and Ukrainian forces traded accusations on Thursday that each had fired across the ceasefire line in eastern Ukraine, raising alarm at a time when Western countries have warned of the possibility of a Russian invasion any day.

"Any escalation in the conflict between Russia and Ukraine will make Indian markets very volatile," said Prashanth Tapse, vice president (research), Mehta Equities.

Indian shares end lower as banks drag; Russia-Ukraine in focus

Market expectations for US rate hikes have come down following the Fed minutes, Tapse said, adding that if the Russia-Ukraine conflict did not settle, there was a chance the Fed might push its rate hike plans.

The Fed minutes showed that while policymakers agreed that it would "soon be appropriate" to raise rates, they would re-assess the rate hike timeline at each meeting.

In Mumbai, rate-sensitive banking stocks were the major drags, with the Nifty bank index down 1.1%.

Indian markets have been extremely volatile this week, with major indexes starting the week with a 3% fall on Monday and recovering the losses over the next two days. Markets are now down more than 7% from the all-time highs scaled in October on expectations for higher interest rates globally.

Among individual stocks, Tata Motors rose as much as 2.6% after J.P. Morgan initiated coverage on the stock with a price target of 630 rupees per share.

Tata Consumer was the top gainer in the Nifty 50 index, rising 2.8%, while ICICI Bank and Axis Bank were the top drags, falling 1.8% each.

Comments

Comments are closed.

Ukraine tensions drive Indian shares lower in volatile trading

PTI to quit Punjab, KP assemblies this month: Imran Khan

3 police personnel gunned down in Nowshera

US condemns attack on Pakistani embassy in Kabul, calls for probe

Dutch masters into World Cup quarter-finals as USA downed

OPEC+ will keep oil policy unchanged in review talks: sources

PTI quitting provincial assemblies will be humiliating for its voters: Saad Rafiq

Russia: price cap is ‘dangerous’ and will not curb demand for our oil

Pakistan calls on interim Afghan govt to up security at Kabul embassy after attack

Moonis’ claims on Gen Bajwa raises doubts on institution’s apolitical narrative: Sanaullah

US unveils high-tech B-21 stealth bomber