Markets fall for 2nd day amid soaring Middle East tensions

mumbai: Benchmark indices Sensex and Nifty closed lower on Wednesday as soaring tensions in the Middle East and caution ahead of the US Fed interest rate decision hit investor sentiment.

Surrendering its early gains, the 30-share BSE Sensex declined by 138.64 points or 0.17 per cent to close at 81,444.66. After a weak opening, the index hit a high of 81,858.97 in morning deals but failed to hold onto

gains later. The barometer dipped 346.29 points or 0.42 per cent to hit a low of 81,237.01.

The 50-share NSE Nifty edged lower by 41.35 points or 0.17 per cent to settle at 24,812.05, marking its second day of losses.

Among Sensex firms, Tata Consultancy Services was the biggest loser dropping by 1.79 per cent. Adani Ports fell by 1.55 per cent, Hindustan Unilever by 1.35 per cent, Bajaj Finserv by 1.16 per cent, and Nestle by 0.95 per cent. Losses in ICICI Bank, Larsen & Toubro, Infosys, NTPC and HCL Tech also dragged the index down.

On the other hand, IndusInd Bank surged by 5.12 per cent after a report expressed optimism over its performance in the coming 12 months.

Titan rose by 1.99 per cent, Mahindra & Mahindra by 1.24 per cent and Maruti by 1.12 per cent.

“The domestic market failed to maintain the opening gains as the continuing tensions in the Middle East & volatility in oil prices dragged the overall sentiment.

However, auto and consumer discretionary gained in expectations of a demand revival,” Vinod Nair, Head of Research, Geojit Investments Limited, said.