Markets fall from record highs as Sensex tumbles 271 points, Nifty ends below 15,770
Mumbai: Key benchmark indices Sensex and Nifty retreated from record-high levels on Wednesday following intense selling in Reliance and HDFC twins as investors turned cautious ahead of the outcome of the US Federal Reserve's policy meeting.
The 30-share BSE index ended 271.07 points or 0.51 per cent lower at 52,501.98. It had closed at an all-time high of 52,773.05 on Tuesday. The broader NSE Nifty retreated from a record and declined 101.70 points or 0.64 per cent to 15,767.55.
PowerGrid was the top laggard in the Sensex pack, shedding around 2 per cent, followed by IndusInd Bank, Reliance, L&T, UltraTech Cement and Bajaj Finance.
On the other hand, Nestle, NTPC, ONGC, Bajaj Finserv Hindustan Unilever and Infosys were among the gainers.
The broader Nifty declined due to broad-based selling across counters, especially metals and financials stocks. Reliance, Adani Ports and HDFC were among the top contributors to index losses. All sectoral indices closed on a weak note except Nifty IT and FMCG. Nifty Metal was the worst performer with 2.9 per cent losses.
Among sectoral indices, BSE Metal dropped the most by 2.58 per cent, followed by BSE Industrials by 1.62 per cent, BSE Energy by 1.43 per cent, BSE Power by 1.33 per cent and BSE Basic Materials by 1.32 per cent. FMCG, IT and Teck indices ended in green.
BSE Midcap dropped by 0.95 per cent while the smallcap index declined by 0.68 per cent.
Lack of fresh trigger from overseas markets also weighed on the local stocks as Asian markets closed mixed. Equities in Europe were trading mixed in mid-session deals.
International oil benchmark Brent crude was trading 0.14 per cent higher at $74.09 per barrel.
Meanwhile, the rupee slips 1 paisa to close at 73.32 against the US dollar, logging its seventh straight day of losses.
Foreign institutional investors (FIIs) emerged as net buyers in the capital market as they bought shares worth Rs 633.69 crore on Tuesday, as per provisional exchange data.
