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The S&P BSE Sensex slipped over 100 points weighed down by weal global cues after the US Federal Reserve on expected lines raised rates by 25 bps but hinted at 2 rate hikes in 2018 which led to some nervousness on equity markets across the globe.
" The Federal Reserve voted to raise its benchmark federal-funds rate by a quarter percentage point to a range of 1.75% to 2% and also projected a slightly faster pace of rate increases in the coming months, with two additional hikes expected by the end of this year, compared to one previously," Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund.
"Investors took this as a more aggressive stance than previously projected and consequently took to selling equities. Key benchmark indices in India finally closed the day with losses of over 0.25%. Barring the healthcare index, which gained close to 2% in trade today, all other sectoral indices traded the day in the negative zone," he said.
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