June 16, 2023 / 07:20 AM IST

Market on Thursday:

The Indian equity market snapped its three-day winning streak to end lower on June 15, with the 30-pack Sensex falling 306 points to 62,921.58 and the broad-based Nifty closing below the 18,700 mark.

The Nifty closed 72 points lower at 18,683.90. About 1,533 shares advanced, 1,754 declined and 116 were unchanged.

Globally, markets were spooked after the US Federal Reserve hinted at two more rate hikes despite hitting the pause button in the June meeting. “Nearly all committee participants view it as likely that some further rate increases will be appropriate this year,” Fed chairman Jerome Powell said in a press conference after the rate decision.

Hero MotoCorp, Wipro, IndusInd Bank, SBI and Kotak Mahindra Bank were the top losers on the Nifty, while Apollo Hospitals, Divis Laboratories, Dr Reddy's Laboratories, Cipla and BPCL gained the most.

Among sectors, the banking and realty indices were down nearly 1 percent each and the information technology index shed 0.5 percent. The pharma index gained 1.4 percent and the FMCG added 0.5 percent.