Sensex falls over 100 points, Nifty slips in trade

Indian equity markets on Tuesday were pulled lower to provisionally close on a flat note as investors were spooked ahead of the two-day US Federal Reserve's rate-setting meet slated to start later in the evening.

The Sensex of the BSE, which opened at 31,225.43 points, was trading at 31,148 points (at 9.25 a.m.), lower by 114.06 points or 0.36 per cent from the previous day's close at 31,262.06 points.

While the US Federal Reserve is expected to hike the policy rate this time and the markets will keenly watch its stance on US economic growth and future rate hike trajectory, however, Fed's outlook on downsizing its balance sheet will be even more keenly watched. "The markets will react to the outcome on Thursday", said Hitesh Agrawal, EVP & Head of Retail Research at Religare Securities.

At 9.32 am, the BSE Sensex was trading at 31,154, falling 107.50 points (0.34%) while the NSE Nifty was trading at 9,635, down 32.60 points (0.34%).

Wipro dropped 1.44 percent after the stock adjusted for bonus issue in the proportion of 1:1.

DIC India (up 20 per cent), Satin (up 15 per cent), Deccan Gold (up 13 per cent) and Madhucon Projects (up 12 per cent) were among the stocks that rallied over 10 per cent. The S&P BSE mid-cap index was a tad up at 0.01 per cent and the small-cap index rose by 0.41 per cent. On the other hand, realty index was up 1.07 per cent, metal 0.42 per cent, healthcare 0.33 per cent and consumer durables 0.24 per cent.

In the commodity space, agri-commodity prices eased, whereas those of aluminium, nickel and copper gained. The US stocks fell on Monday as the tech sector extended losses. Lupin was another gainer among pharma stocks, up 1.7 percent.

  • Zachary Reyes