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Business Update: Equity indices nudge lower on weak global cues, banking stocks dip
Equity benchmark indices traded lower during early hours on Thursday on the back of weak global cues after the US Federal Reserve indicated the interest rate could stay close to zero for years.
Mumbai: Equity benchmark indices traded lower during early hours on Thursday on the back of weak global cues after the US Federal Reserve indicated the interest rate could stay close to zero for years.
At 10:15 am, the BSE S&P Sensex was down by 141 points or 0.36 per cent at 39,162 while the Nifty 50 lost by 39 points or 0.34 per cent at 11,565. Except for Nifty IT and pharma, all sectoral indices at the National Stock Exchange were in the negative terrain with Nifty private bank losing by 1 per cent and financial service by 0.9 per cent.
Meanwhile, Asian stocks fell after the US Federal Reserve pledged to keep interest rates low for years till the inflation reaches its 2 per cent target. But it stopped short of offering further on stimulus to shore up a battered US economy.
MSCI's broadest index of Asia Pacific shares outside Japan lost by 0.82 per cent and Japan's Nikkei shed 0.45 per cent. (ANI)