Sun Pharma, M&M, Yes Bank and Tech Mahindra are among top gainers on key indices,  whereas Vedanta, NTPC, Maruti Suzuki, Reliance Industries and Bharti Airtel lead losses. Here are the latest updates from the markets

Indian benchmark indices BSE Sensex and NSE’s Nifty 50 declined today, halting a six-day long winning streak, as stocks across the world declined after US Federal Reserve hinted more rate hikes ahead. US Fed 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. Oil prices fell over 1% to erase most of their gains from the day before, resuming declines seen earlier in the week amid worries about oversupply and the outlook for the global economy.

9.57 am IST
Pfizer, GSK Consumer shares gain on JV plan by parentsShares of Pfizer Ltd rose as much as 2.75% to Rs 2,958 per share, and GlaxoSmithKline Consumer Healthcare advanced as much as 1.02% to Rs 7,882.65 per share. On Wednesday, GSK and Pfizer announced that they would combine their consumer health businesses in a joint venture with sales of 9.8 billion pounds ($12.7 billion), 68% owned by the British company, in an all-equity transaction.

9.44 am IST
Market update: Sensex, Nifty trade lower
The BSE Sensex traded 156.41 points, or 0.43%, down at 36,327.92. The Sensex opened at 36,321.18and hit a low of 36,213.73, down 270.6 points from its previous close.  The Nifty 50 fell 49.15 points, or 0.45%, to 10,918.15. The 50-share index opened at 10,885.20, and hit a low of 10,880.05, down 87.25 points from yesterday’s close.  However, the BSE midcap and smallcap indices were up 0.07% and 0.25%, respectively.   Sixteen out of 19 sectoral indices traded in negative territory dragged by metal, which was down over 1%. Power utilities, IT, teck and energy fell up to 0.9%.   Healthcare, realty and consumer discretionary goods gained.

9.37 am IST
Religare Enterprieses shares gain over 2%
Shares of Religare Enterprieses Ltd rose as much as 2.03% to Rs 32.70 after the company said its subsidiary filed a criminal complaint against the Singh brothers, former promoters of the parent, and their associates for allegedly siphoning and misappropriating Rs 740 crore.

9.25 am IST
Metal stocks trade lower as global prices sink
Shares of metal companies fell as Most dollar-denominated metals, including copper, traded lower after the United States said it would withdraw sanctions on Russian aluminium producer United Company Rusal. Nalco fell 4%, Hindalco Industries Ltd 2.3%, Vedanta Ltd 2.2%, Jindal Steel & Power Ltd 1.5%, NMDC 1.3%, SAIL 1.2%, JSW Steel 1%, Coal India 0.8%.

source: livemint.com