STOCK MARKET CLOSING UPDATES: After three sessions of advances amid the U.S. Fed's hawkish attitude on interest rates, investors reduced exposure to banking, IT, and finance companies on Thursday (June 15), putting pressure on the equity benchmarks Sensex and Nifty to succumb to selling pressure. Risk aversion was reduced by the sluggish start to the European markets and the weakening of the rupee, according to dealers.

The 30-share BSE Sensex dropped 310.88 points, or 0.49%, to close at 62,917.63 after rising for the previous three days. It dropped 357.43 points or 0.56% over the day to 62,871.08. The NSE Nifty fell 67.80 points, or 0.36% to close at at 18,688.10.

IndusInd Bank, State Bank of India, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys, Tata Consultancy Services, HDFC, and Bajaj Finserv were the next largest losers in the Sensex pack, each dropping almost 2%. However, among the winners were Nestle, Mahindra & Mahindra, ITC, HCL Technologies, Asian Paints, and Maruti.
 International Markets: Seoul and Tokyo experienced lower closing prices in Asian markets, while Shanghai and Hong Kong closed higher.  European stock markets were trading under a range of conditions. In Wednesday's overnight trading, the U.S. markets came to a mixed conclusion.

After increasing it ten times in a row to combat excessive inflation, the U.S. Federal Reserve left its benchmark interest rate steady on Wednesday. However, the Fed unexpectedly hinted that it would increase rates twice more this year, perhaps as early as next month.

Benchmark Brent crude for world oil increased 0.97% to $73.91 per barrel.

According to exchange statistics, foreign institutional investors (FIIs) purchased shares of stock on Wednesday totaling 1,714.72 crore.

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