BSE Sensex declines as US Fed chairman Janet Yellen further tapers QE by $10 bn

Written by fe Bureau | Mumbai | Updated: Mar 20 2014, 17:39pm hrs
BSE SensexAmong sectoral indices, the BSE Power, BSE Bankex and BSE Capital Goods are the major losers.
The benchmark indices BSE Sensex and NSE Nifty were trading lower after the US Fed decided to slash its monthly bond-buying to $55 billion, its third $10 billion cut.

The benchmark BSE Sensex was trading 0.34% or 75.58 points lower at 21,759.28 points, while the NSE Nifty was trading 0.40% or 25.80 points lower at 6,498.25 points at 10.15 am IST.

Experts feel US Fed's decision to further taper its stimulus package could keep markets under pressure. "Markets are expected to open lower as the US Federal Reserve dropped the US unemployment rate as its definitive yardstick for gauging the economy's strength and made clear it would rely on a wide range of measures in deciding when to raise interest rates, and this could be as early as the middle of next year," Standard Chartered Securities said in its morning note.

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Among sectoral indices, the BSE Power (-0.94%), BSE Bankex (-0.95%) and BSE Capital Goods (-1.21%) were the major losers.

Among individual stocks, Bharat Heavy Electricals Ltd (BHEL) (-2.42%), Axis Bank (-1.74%) and Gail (-1.69%) were the major losers on the 30-share Sensex.

Among Asian indices, the Nikkei (-1.5%), Hang Seng (-1.13%), Kospi (-0.87%) and Taiwan Taiex (-1.24%) were the major losers.

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