Key indices end 2-day rally on FII outflows
Investors cautious ahead of US Federal Reserve’s interest rate decision
image for illustrative purpose
In bearish zone
- During the session, Sensex fell 300.12 pts or 0.46% to 63,812.53
- Nifty dipped 61.30 pts or 0.32% to 19,079.60
- Fed expected to keep rates unchanged
- FIIs offloaded equities worth Rs1,761.86 crore
Mumbai: Equity benchmark indices snapped two-days of rally to settle lower on Tuesday amid unabated foreign fund outflows and escalating tensions in the Middle East. Besides, investors were cautious ahead of the US Federal Reserve’s interest rate decision.
The 30-share BSE Sensex declined 237.72 points or 0.37 per cent to settle at 63,874.93. During the day, it fell 300.12 points or 0.46 per cent to 63,812.53. The Nifty dipped 61.30 points or 0.32 per cent to 19,079.60. Among the Sensex firms, Mahindra & Mahindra, Bharti Airtel, ICICI Bank, IndusInd Bank, Reliance Industries, Axis Bank and HDFC Bank were among the major laggards. Titan, Kotak Mahindra Bank, Asian Paints, HCL Technologies, Tech Mahindra, NTPC, Nestle and Power Grid were the major gainers. “Modest cautiousness returned post yesterday’s bounce, ahead of the US Fed policy meeting, dragging Asian and developed markets. The Fed is widely expected to keep rates unchanged, and the commentary on the future path will be the crucial factor to influence further direction,” said Vinod Nair, Head of Research at Geojit Financial Services.
In the broader market, the BSE midcap gauge gained 0.29 per cent and smallcap index advanced 0.02 per cent. Commodities, utilities, consumer durables and realty were the gainers. “Markets edged marginally lower in a dull session, taking a breather after the recent rebound,” Ajit Mishra, SVP - Technical Research, Religare Broking Ltd, said. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 696.02 crore on Tuesday, according to exchange data.
