Domestic stock markets fell on Thursday amid selling pressure in banking stocks, as global equities gave up gains despite the US central bank saying it would keep interest rates near zero. The S&P BSE Sensex index dropped 280.51 points – or 0.71 per cent – to 39,022.34 in the first few minutes of trade, after opening down 182.21 points at 39,120.64. The broader NSE Nifty 50 benchmark slid to as low as 11,520.50, down 84.05 points – or 0.72 per cent – from its previous close.
The Sensex ended 323.00 points – or 0.82 per cent – lower at 38,979.85, and the Nifty settled at 11,519.25, down 85.30 points – or 0.74 per cent – from its previous close.
Denting sentiment further, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.82 per cent after the Federal Reserve stopped short of offering further on US stimulus.