Benchmark indices erase all intraday gains; selling in IT, metal, media, oil & gas
Sensex closed 189 points, or 0.25 per cent, lower at 74,482.78 while the Nifty 50 closed the day at 22,604.85, down 39 points, or 0.17 per cent.
Negative global cues and heavy selling pressure in healthcare, oil and gas, and banking stocks led the Indian equity markets to close on flat-to-negative note on Wednesday.
Market observers said investors were cautious ahead of the outcome of the two-day US Federal Open Market Committee (FOMC) meet, due later in the evening.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 1.85 points or 0.02 per cent to close (provisionally) at 9,311.95 points.
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The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 29,984.95 points, provisionally closed at 29,894.80 points (at 3.30 p.m.) — down 26.38 points or 0.09 per cent from its previous close at 29,921.18 points.
The Sensex touched a high of 30,020.59 points and a low of 29,846.57 points during the intra-day trade.
The BSE market breadth favoured a bearish mood — with 1,488 declines and 1,357 advances.
On Tuesday, the benchmark indices closed on a flat-to-positive note. The NSE Nifty inched up by 9.75 points or 0.10 per cent to close at 9,313.80 points, while the BSE Sensex closed at 29,921.18 points — up a tad 2.78 points or 0.01 per cent.
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