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Sensex, Nifty Decline Ahead Of Fed Rate Decision: Mid-Day Market Update

India’s stock benchmarks declined after a volatile start, dragged by broad-based losses across power, realty, capital goods, banking, information technology and commodities stocks, ahead of the Federal Reserve’s rate decision, scheduled to be announced later Wednesday.

The Sensex lost nearly 250 points, or 0.40%, to 59,479.82. The Nifty 50 also declined by a similar magnitude to 17,723.05 as of 1 p.m.

Among the Nifty 50 constituents, 10 stocks rose, while 40 fell.

Britannia Industries Ltd., Hindustan Unilever Ltd., Apollo Hospitals Enterprise Ltd., Tech Mahindra Ltd., Reliance Industries Ltd. were among the top gainers.

Adani Ports & Special Economic Zone Ltd., Shree Cement Ltd., IndusInd Bank, NTPC Ltd., Cipla Ltd., Kotak Mahindra Bank and Tata Motors Ltd. were the top losers.

The mid-cap index mirrored the Sensex and Nifty, while the small-cap gauge underperformed, down 0.6%.

Barring FMCG, all the other 18 sectoral indices compiled by BSE Ltd. declined, with utilities, power, capital goods, realty and commodities falling over 1%.

The market breadth was skewed in favour of the bears. About 1,144 stocks rose, 2,185 fell and 156 remained unchanged.

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