June 14, 2018 / 6:26 AM / 2 months ago

Sensex tracks Asian peers lower; IT stocks drag

(Reuters) - Indian shares snapped a three-session winning streak to end lower on Thursday, tracking Asian peers, a day after the U.S. Federal Reserve raised interest rates and struck a more hawkish tone in forecasting a slightly faster pace of tightening.

A broker reads a newspaper while trading at a brokerage firm in Mumbai May 14, 2014. REUTERS/Danish Siddiqui/Files

The Fed raised its benchmark overnight lending rate by a quarter of a percentage point to a range of 1.75 percent to 2 percent and forecast two additional hikes by the end of this year, compared with one previously.

The broader NSE Nifty ended 0.45 percent lower at 10,808.05, while the benchmark BSE Sensex closed 0.39 percent weaker at 35,599.82.

The Nifty IT index ended 1.5 percent lower, after marking six sessions of gains. The index was pulled down by Infosys Ltd, which closed 2 percent lower.

Reporting by Jessica Kuruthukulangara in Bengaluru, Editing by Sherry Jacob-Phillips

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