Nifty, Sensex fall on US rate hike concerns; Stock Tips

Sensex, Nifty ended lower on Wednesday’s closing ahead of the release of third-quarter GDP data for the FY 2017-2018. The NSE Nifty50 plunged 61.45 points, to close at 10,492.85. The BSE Sensex ended lower by 162.35 points to 34,184.04.

Nifty PSU Bank index closed in green except Bank of India.  Shares of PNB managed to get well some of its losses after hitting a new 20-month low in the early morning trades.  Shares of Syndicate Bank, OBC and Indian Bank surged 3 to7 percent. Infosys shares gained jumping over 2 percent.

Traders are also wary ahead of GDP data due to be unveiled in the day. Industrial production and GDP growth numbers were set for release later afternoon hours.

Among Nifty constituents, Nifty Private Bank, Metal, Media, FMCG, Auto and Pharma declined over 1% while Nifty IT and Nifty PSU Bank index gained below 1 percent.

Top Gainers & Losers on NSE: Infosys (up 1.71%), UPL (up 1.05%), Eicher Motors (up 0.98%), HPCL (up 0.93%) and Cipla (up 0.77%).  However, Vedanta (down 3.11%), ICICI Bank (down 2.43%), HUL (down 2.37%), Indiabulls HF (down 2.30%) and Axis bank down 2.17%), as top losers.

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