Sensex and Nifty plunged 1.4 percent at closing session
The Sensex and the Nifty plunged nearly 1.4 percent at the closing session as investors turned wary ahead of the Federal Reserve two-day policy meeting. Investors braced for a possible hawkish shift in the Federal Reserve’s policy stance in the lead-up to the US central bank’s two-day policy meeting later in the day.
The 30-share BSE index Sensex plunged 324.05 points to end at 26,492.51 and the 50-share NSE index Nifty fell 109.10 points to close at 7,932.90. Among BSE sectoral indices, realty, power, PSU and infrastructure indices fell the most by 3.42 percent, 3.26 percent, 3.12 percent and 3.05 percent, respectively. Dr Reddy’s, HUL, ITC, Infosys and Sun Pharma were the top five Sensex gainers, while the top five losers were Tata Power, Tata Steel, Axis Bank, ONGC and L&T.
The shift in the federal policy is one of the main reasons which have caused this sudden shift. However a lot of this relies on the Federal Reserve Policy. This hawkish shift might soon see a change in the upcoming weeks as is being expected.
Source: The Hindu Business Line
BSE index, federal policy, HUL, Infosys, ITC, Nifty, Sensex, Sun Pharma
