The Indian equity market erased most of its losses, recovery from the day's lows with the Nifty closing above 10,950 level. The Sensex was down 52 points, or 0.14 percent, at 36,431 at close, while the broader Nifty50 was down 15 points, or 0.14 percent at 10,951. The BSE index recovered more than 240 points from the day's lows, while the Nifty bounced back by around 80 points. Midcaps ended in the green.

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HDFC Bank, HDFC, Infosys, ITS and Kotak Mahindra Bank were the positive contributors to the Sensex. Among the sectors, auto, infra, and pharma ended in green, while PSU bank, metal, energy, FMCG and IT index was down between 0.20 to 1 percent. Shares of Yes Bank surged 4 percent.

(Market update at close)

Sensex, Nifty trade lower as metal, energy stocks drag; Bharti Airtel down 2%

Benchmark indexes fell on Thursday on the back of frail risk global risk appetite after the US Federal Reserve sounded less dovish than what the investors were expecting.

The Fed on Wednesday raised its key interest rate for the fourth time this year and signaled two more rate hikes next year, contrary to market expectation of just one.

Around 12 noon, the 30-share BSE Sensex declined 210 points, or 0.58 percent, at 36,274. The Nifty was just above 10,900 mark, at 10,904, trading lower by nearly 63 points, or 0.57 percent.

Top losers included, Hindalco, Grasim, Vedanta, Bharti Airtel, HDFC, PowerGrid, Reliance Industries, falling up to 2.31 percent.

Shares of Bharti Airtel fell about 2 percent on Thursday ahead of the company's board meet to finalise fundraising plans.

Among the sectors, Nifty Pharma was leading among the 7 advancing sectors, rising 0.27 percent up as Sun Pharma shares were up. BSE Metal, Nifty Energy and BSE Telecom were among the weakest of 36 declining sectors.

The rupee traded at 70.26 against the US dollar at 12.11 pm. The home currency opened lower at 70.68 against the greenback, falling from Wednesday's close of 70.40, after breaching the $70 mark intra-day.

In Asia, Japan's Nikkei extended losses, falling nearly 600 points, while Hong Kong's Hang Seng also slipped lower, dipping 1.26 percent.

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First Published:Dec 20, 2018 12:23 PM IST