Market Closing: Sensex, Nifty plummets from record highs, investors eye US Fed meet

Key Benchmark indices Sensex and Nifty retreated from record-high levels on Wednesday following sharp selling in Reliance,  HDFC (Housing) and HDFC bank as investors turned cautious ahead of the outcome of the US Federal Reserve's policy meeting.

The Sensex settled 271.07 points 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 to 15,767.55.

PowerGrid was the top laggard in the Sensex pack 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.

Investors kept an eye on the two-day US Federal Reserve meeting, which is set to conclude on Wednesday.

Meanwhile, International oil benchmark Brent crude was trading 0.14 % higher at USD 74.09 per barrel.

Elsewhere  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 ₹ 633.69 crore on Tuesday, as per provisional exchange data.

 

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