Markets halt 8-day rally, ahead of US Fed interest rate decision
The rupee appreciates by 6 paise to 81.81 against dollar;
Benchmark indices ended lower on Wednesday, halting their eight days of rally, ahead of the US Federal Reserve’s interest rate decision and mixed global market trends.
Robust equity buying by foreign institutional investors failed to stop the downward movement as fall in index heavyweights Reliance Industries, Tata Consultancy Services, Infosys and Larsen & Toubro weakened the overall sentiment.
The 30-share BSE Sensex declined 161.41 points or 0.26 per cent to settle at 61,193.30. During the day, it tumbled 330.27 points or 0.53 per cent to 61,024.44. Similarly, the broader NSE Nifty fell 57.80 points or 0.32 per cent to end at 18,089.85.
From the Sensex firms, Bharti Airtel, Tech Mahindra, Axis Bank, Bajaj Finance, Larsen & Toubro, Tata Consultancy Services, State Bank of India, Reliance Industries, Wipro, Infosys, HCL Technologies, IndusInd Bank and Tata Steel were the major laggards.
Hindustan Unilever, Asian Paints, Tata Motors, UltraTech Cement, ITC and Nestle were among the gainers.
The rupee consolidated in a narrow range and settled for the day higher by 6 paise at 81.81 against the US dollar on Wednesday, tracking the weakness of the American currency in the overseas market.