Dalal Street Witnesses Losses, Sensex Falls Over 400 Points, Nifty Tests 25,900
In the previous session, the BSE Sensex started the day a little above 84,800, crashing 290 points, while the NSE Nifty50 rang the opening bell at 25,848, plummeting more than 100 points.
The Indian benchmark indices ended lower on Tuesday, as the Sensex fell over 400 points to close trade at 84,686.63 and Nifty declined more than 100 points to end at 25,841.05.
In the 30-share BSE Sensex, among the top gainers were stocks such as Eternal, Titan, Adani Ports, Bharat Electronics and State Bank of India. Meanwhile, the laggards included stocks like Kotak Bank, Axis Bank, Trent, L&T and ITC.
In the broader markets, the Nifty Microcap 250 gained 1.97 per cent and the Nifty 100 fell 0.30 per cent. Sectorally, Nifty IT fell 1.19 per cent and the Nifty PSU Bank rose 1.29 per cent.
In the previous session, the BSE Sensex started the day a little above 84,800, crashing 290 points, while the NSE Nifty50 rang the opening bell at 25,848, plummeting more than 100 points.
US Fed Meet Begins Today
The US Federal Reserve will begin its two-day policy review on Tuesday, with the Federal Open Market Committee meeting to consider benchmark interest rates for the world’s largest economy. The rate decision is due to be announced on Wednesday.
Data from the exchanges showed that Foreign Institutional Investors sold equities worth Rs 655.59 crore on Monday, while Domestic Institutional Investors made purchases totalling Rs 2,542.49 crore. Despite expectations that the US Fed may signal a rate cut on December 10, overall sentiment remains delicate, said Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd. He added that continued FII selling, the rupee edging closer to the 90-per-dollar mark, and softer global trends are keeping investors on edge.
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