Sensex, Nifty Fall Dragged By Commodities, Capital Goods Stocks Ahead Of Fed Decision: Market Wrap
The S&P BSE Sensex lost over 260 points or 0.44% to 59,456.78. The NSE Nifty 50 also declined by similar magnitude to 17,718.35.
India's stock benchmarks ended down, snapping a two-day winning streak, dragged by broad-based losses across sectors led by commodities, capital goods, power, and utilities stocks.
Focus is on the U.S. Federal Reserve which will announce its rate decision later on Wednesday.
The S&P BSE Sensex lost over 260 points or 0.44% to close at 59,456.78, while the NSE Nifty 50 declined by similar magnitude to end at 17,718.35. Among Nifty 50 constituents, 13 stocks rose, 36 fell and one remained unchanged.
Britannia Industries Ltd., Hindustan Unilever Ltd., ITC Ltd., Apollo Hospitals Enterprise Ltd., and Bajaj Finance Ltd. among others were the top gainers. Shree Cement Ltd, Adani Ports and Special Economic Zone Ltd., Power Grid Corporation of India Ltd., IndusInd Bank Ltd., Ultratech Cement Ltd. were among the top losers in the 50-stock index.
The broader indices underperformed their larger peers with mid cap measure losing 0.63% and small cap gauge shedding 0.69%. Barring FMCG, all the other 18 sectoral indices compiled by BSE Ltd. declined.
The market breadth is skewed in the favour of bears. About 1,290 stocks rose, 2,168 fell and 129 remained unchanged.