Stock Market Closing Today: Nifty Settles in Red After Hitting Record High, Sensex Down Nearly 200 Points Ahead of FOMC Announcement. Image Source: Canva
Stock Market Closing Today: The headline indices Sensex and Nifty settled in red in Tuesday’s trading session in a sharp reversal erasing early gains amid profit booking. During the day, Nifty hit the record high for the first time after 10th April, however, shortly after it slipped into red settling at 22,604.85, down by 38.55 points or 0.17 per cent. Meanwhile, Sensex was down nearly 189 points. NIFTY IT was the top losing index falling by 1.13 per cent. Nifty Bank was hit the 52-week high but ended in red due to fag-end selling.
Among the Sensex pack, Mahindra & Mahindra was the top gainer, rising by 4.53 per cent followed by PowerGrid, Indusind Bank, Bajaj Finance, Bajaj Finserv and Tata Motors. Tech Mahindra, JSW Steel, Tata Steel and HCL Tech were the top results.
Jerome-Powell-led FOMC rate-setting panel will also meet today and announce the decision
Vinod Nair, Head of Research, Geojit Financial Services, said “Global markets remained mixed ahead of US FED policy meet, as markets appear to have already factored in the slim chance of a near-term rate cut. Profit booking ensued towards a close given the sharp rally in the last couple of days and a holiday-led truncated week. Domestic initial Q4 corporate earnings forecasts were conservative; however, Nifty50 companies’ earnings till date have remained marginally better, with the exception being the IT sector, while auto and realty continue to be robust.”
