Market Closing: On Tuesday, Indian equity indexes ended their five-day winning streak and finished lower, as investors' attention shifted to the approaching Federal Reserve meeting in the United States. At its meeting on Wednesday, the Federal Reserve is poised to raise interest rates for the first time since the Covid-19 pandemic. Traders became wary when retail inflation jumped 6.07 percent in February, exceeding the Reserve Bank's goal range of 2 to 6 percent for the second month in a row.
The 30-share BSE Sensex fell 709 points, or 1.26 percent, to 55,777, while the broader NSE Nifty dropped 208 points, or 1.23 percent, to 16,663.
Mid- and small-cap stocks finished down, with the Nifty Midcap 100 index down 0.85% and small-cap stocks down 0.875 percent.
The National Stock Exchange's 15 sector gauges ended the day in the red, with 13 of them. Nifty Metal and Nifty IT both underperformed the index, dropping 4.07 percent and 2.58 percent, respectively. Nifty Auto and Nifty FMCG, on the other hand, increased 0.57 percent and 0.17 percent, respectively.
On a stock-by-stock basis, Tata Steel was the largest Nifty loser, falling 5.24 percent to Rs 1,229.05. The laggards were Hindalco, ONGC, Coal India, and JSW Steel.
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