Nifty Ends below 4850 at 4844 down 42 pts;

  Weak global cues after the US Fed hiked interest rate saw the Sensex open with a negative gap at 16,256. The index dropped to a low of 16,074 in noon deals but moved up to a high of 16,302 in late noon deals - an intra-day swing of over 225 points. The Sensex finally closed with a loss of 136 points (0.83%) at 16,192. The Nifty was down 44 points at 4,844.

The BSE Realty index was down over 3%. Breadth was bearish - out of over 2,875 scrips traded, over 2,000 declined.

DLF declined over 4% to Rs 291. Jaiprakash was also down over 4% at Rs 130.

Reliance, which had declined over 3% yesterday, slipped over 1% to Rs 984. RCom, Sterlite, Tata Steel and SBI also declined.

HDFC Bank was up 1% at Rs 1,700. Maruti, ONGC and HDFC also closed with gains.

HDFC Bank was the most active counter on the BSE with a turnover of Rs 150 crore followed by Reliance (Rs 95 crore) and SBI (Rs 91 crore).