Sensex, Nifty End Lower As Investors Await Fed Decision
(RTTNews) - Indian shares ended modestly lower on Monday, mirroring muted cues from overseas markets as investors eagerly looked forward to Wednesday's FOMC meeting.
A 25-bps rate cut is already priced in by markets, but traders will pay close attention to the updated policy statement and Fed Chair Jerome Powell's press conference for clues on future interest rates under the Trump administration.
The downside in domestic markets remained capped somewhat after a survey showed India's private sector grew the most in four months in December due to quicker increases in output at both manufacturers and service providers.
The HSBC composite output index registered 60.7 in December, up from 58.6 in November.
Separate data revealed India's WPI inflation rate dropped to a three-month low of 1.89 percent in November, reflecting a moderation in price increases for food items and manufactured products.
The benchmark S&P/BSE Sensex dropped 384.55 points, or 0.47 percent, to 81,748.57 while the broader NSE Nifty index closed at 24,668.25, down 100.05 points, or 0.40 percent, from its previous close.
Tech Mahindra, TCS, Adani Ports, Hindalco and Titan Company fell 1-2 percent in the Nifty pack while Dr Reddy's Laboratories jumped 1.7 percent and IndusInd Bank rallied 1.2 percent.
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