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Sensex, Nifty close lower on profit booking ahead of Fed meet outcome

Market closing:  Benchmark indices closed flat with a negative bias as investors awaited the outcome of Federal Reserve’s two-day meeting tonight. Caution also maintained ahead of GST Council meet on Thursday.

The 30-share BSE Sensex was down 44.52 points at 29,398.11 and the 50-share NSE Nifty fell 2.20 points to 9,084.80.

However, the broader markets outperformed benchmarks smartly despite balanced market breadth. The Nifty Midcap and Smallcap indices gained 0.8 percent each. About 1408 shares advanced while 1409 shares declined on the BSE.

Technology stocks caught in bear grip after rupee gained strength against the US dollar, hitting 65.50. TCS and Infosys fell more than 2 percent.

Liquor stocks gained after Karnataka government announced lifting of VAT on wine, beer and hard liquor in its Union Budget; PVR fell after it announced a cap of Rs 200 on movie tickets.

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Sensex, Nifty close lower on profit booking ahead of Fed meet outcome


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