Stock Update: Indian Stocks Trends Downward

New Delhi: Indian stock declined for the second consecutive day. Rising key interest rates of US central bank Federal Reserve in its fight against the multi-decade high inflation is said to be the reason behind this.

The US Federal Bank raised the key policy rate by 75 basis points to over a decade high at 3.75-4 percent in its latest monetary policy meeting.

Sensex traded at 60,794.24 points, down 111.85 points or 0.18 percent, whereas Nifty traded at 18,051.90 points, down 30.95 points or 0.17 percent.

Among Nifty top 50 stocks, Tech Mahindra, Hindalco, Wipro, Coal India, and Infosys were the top five losers, declining in the range of 1-2 percent each, National Stock Exchange data showed.