Market indicators remained subdued for a second session on Thursday after the Federal Reserve raised interest rates by 75 basis points for the fourth time to rein in scorching inflation, a lacklustre move in overseas markets.

The 30-share BSE Sensex was down 69.68 points, or 0.11%, at 60,836.41. During the day, it was down 420.95 points or 0.69% to 60,485.14. Likewise, the broader NSE Nifty was down 30.15 points or 0.17% at 18,052.70.

Tech Mahindra was the worst laggard in the Sensex portfolio, down 2.66%, followed by PowerGrid, NTPC, Infosys, Wipro, M&M and TCS. In contrast, SBI, Titan, Bharti Airtel, Tata Steel, HUL and IndusInd Bank were the winners, rising as much as 1.89%.

“The Fed hiked rates by 75 basis points to a range of 3.75% to 4%, the highest level since 2008. However, it also indicated that subsequent rate hikes would taper off to bring inflation back around its 2% target.”

On the broader market, the BSE mid-cap index was up 0.22%, and the small-cap index was up 0.11%. Among the BSE industry indexes, utilities lost 1.26%, electricity lost 1.18%, IT lost 1.13%, Teck (0.8%) and consumer discretionary (0.25%). Bankex, energy, FMCG, financial services and real estate closed in the green.

Elsewhere in Asia, Seoul, Shanghai and Hong Kong markets closed lower. Euronext was in negative territory in intraday trading.

Wall Street closed sharply lower on Wednesday. Brent crude, the international oil benchmark, fell 1.16% to $95.04 a barrel.

On Thursday, the rupee weakened by 10 paise to settle at 82.90 (tentative) against the US dollar. According to exchange data, foreign institutional investors (FII) became net buyers on Wednesday, buying shares worth Rs 1,436.3 crore.