Profit booking after seven-day gains and negative global stocks pulled the key domestic indices modestly lower today. The Nifty managed to close above 10,900 mark after slipping below that level in morning trade. Global stocks edged lower after the US Federal Reserve raised interest rates overnight.

The Sensex fell 52.66 points or 0.14% to settle at 36,431.67. The index fell 8.81 points, or 0.02% at the day's high of 36,475.52. The index fell 281.43 points, or 0.77% at the day's low of 36,202.90.

The Nifty 50 index fell 15.60 points or 0.14% to settle at 10,951.70. The index fell 4.75 points, or 0.04% at the day's high of 10,962.55. The index fell 87.25 points, or 0.80% at the day's low of 10,880.05.

Domestic stocks opened on a subdued note as the key benchmark indices dropped on negative Asian stocks. Stocks extended fall in morning trade. Key indices cut some losses in mid-morning trade. Indices hovered in a small range in early afternoon trade. Key indices pared losses in afternoon trade. Indices hovered in a small range with negative bias in mid-afternoon trade. Stocks cut losses in late trade.

The S&P BSE Mid-Cap index rose 0.07%. The S&P BSE Small-Cap index rose 0.12%.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1226 shares rose and 1356 shares fell. A total of 166 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Capital Goods index (up 0.56%), the S&P BSE Industrials index (up 0.41%) and the S&P BSE Auto index (up 0.32%), outperformed the Sensex. The S&P BSE Telecom index (down 1.17%), the S&P BSE Metal index (down 1.1%) and the S&P BSE Basic Materials index (down 0.65%), underperformed the Sensex.

Yes Bank (up 3.93%), Hero MotoCorp (up 2.06%), Asian Paints (up 1.78%), Tata Motors (up 1.32%) and Sun Pharmaceutical Industries (up 1.24%), were the major Sensex gainers.

State Bank of India (down 2.18%), Wipro (down 2.1%), Vedanta (down 2.05%), Bharti Airtel (down 1.89%), Maruti Suzuki India (down 1.35%) and ICICI Bank (down 1.19%), were the major Sensex losers.

ONGC rose 0.13%. The board of directors of the company at the meeting held today approved buyback of the fully paid-equity shares of the company not exceeding 25.29 crore shares being 1.97% of the total paid-up equity shares of the company at Rs 159 per share for an aggregate consideration not exceeding Rs 4022 crore on a proportionate basis through a tender offer route. The company has fixed 4 January 2019 as the record date. The announcement was made during market hours today, 20 December 2018.

Auto major M&M gained 1.90%. M&M said that Mahindra Intertrade (MIL), a wholly owned subsidiary of Mahindra Vehicle Manufacturers (MVML) which is in turn a wholly owned subsidiary of the company, has on 19 December 2018 incorporated PT Mahindra Accelo Steel Indonesia (PT MASI). The announcement was made after market hours yesterday, 19 December 2018.

Meanwhile, Rajasthan chief minister Ashok Gehlot Wednesday reportedly announced waiver of short-term loans taken by farmers from cooperative banks and loans of up to Rs 2 lakh from other banks. The waiver will apply to loans taken up to November 30. The move is line with the action taken by the governments in Madhya Pradesh and Chhattisgarh, the two other states where the Congress won the recent assembly elections.

The government on Thursday, 20 December 2018, reportedly sought parliament's nod to spend an additional Rs 41,000 crore on recapitalisation of capital-starved public sector banks. This is over and above the Budgeted Rs 65,000 crore fund for the PSU banks in the current financial year. The capital infusion, however, will not entail any cash outgo from the Centre's kitty as it will come through recapitalisation bonds, reports added.

Further, the government sought Parliament approval for an additional net spending of Rs 15065.49 crore during the current fiscal year 2018-19. Finance Minister Arun Jaitley tabled the second batch of Supplementary Demand for Grants for 2018-19 involving a gross spending of Rs 85948.86 crore in the Lok Sabha.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 69.885, compared with its close of 70.39 during the previous trading session.

In the global commodities markets, Brent for February 2019 settlement was down $2.10 at $55.14 a barrel. The contract had fallen 98 cents, or 1.71% to settle at $56.26 a barrel during the previous trading session.

Overseas, European and Asian stocks declined Thursday after the US Federal Reserve raised rates for the fourth time in 2018. A Bank of England interest rate decision is due Thursday.

The Bank of Japan kept its monetary policy unchanged on Thursday, maintaining that the nation's economic expansion remains intact despite increased market volatility and the trade war between the US and China.

US stocks dropped on Wednesday after Jerome Powell failed to quell investor angst that the Federal Reserve's tightening policy will throttle economic growth. Investors had anticipated a less aggressive approach amid concern that global growth is slowing.

The US Federal Reserve raised interest rates on Wednesday, as expected, but forecast fewer rate hikes next year and signaled its tightening cycle is nearing an end in the face of financial market volatility and slowing global growth. The rate hike, the fourth of 2018, lifted the target range for the Fed's benchmark overnight lending rate by a quarter of a percentage point to a range of 2.25% to 2.50%.

In economic data, the Commerce Department reported that the US trade deficit increased to $124.8 billion in the third quarter, up from $101.2 billion the second quarter of 2019.