Sensex Drops 77 Points, Nifty Hit a Six Month Low

Indian share market witnessed selling pressure in the afternoon session as sentiments remained subdued after US Federal Reserve Chair Janet Yellen signalled of an imminent interest rate hike. 
 

At the closing bell, the BSE Sensex stood lower by 77 points, while the NSE Nifty hit a six month low to finish at 8074. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap bucked the week trend and finished up by 0.6% and 0.3% respectively. 

Sectoral indices finished the day on a mixed note with energy sector and pharma stocks led the BSE gainers today.

 While metal stocks and FMCG sector witnessed the maximum selling pressure.

The rupee fell and was trading at 68.09 against the US$ in the afternoon session. Oil prices were trading at US$ 44.91 at the time of writing share market news. 

Coal India Limited sold 7 million tons of coal, or 35% of the quantity on offer in an e-auction recently. Most of the coal was sold near the floor price that was 20% higher than listed prices for non-power users. (Get Coal India share price)

Stocks from mining sector ended the trading week on a mixed note with NMDC Ltd and MOIL Ltd leading the losses.

Moving on to bank stocks...

With major infusion of fresh liquidity arising from the demonetization measure, ICICI Bank and HDFC Bank slashed fixed deposit (FD) rates by up to 0.25%. 

ICICI Bank share price and HDFC Bank share price dropped by 1.3% and 1.6% respectively.

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