At 9:16 AM, BSE Sensex was trading at 80,576.37, down 108 points or 0.13%. Nifty50 was at 24,295.85, down 40 points or 0.16%.
Broad-based negative sentiment dominated domestic markets on Tuesday as investors awaited crucial US Fed policy decisions. Analysts indicate that if the index falls below 24,300, it could face further decline towards 24,000.
Given the current uncertain conditions, market participants are recommended to maintain protective positions and await clearer direction, say market experts.
US stocks declined on Tuesday with the Dow falling for nine consecutive sessions, as investors remained cautious before the Federal Reserve’s final policy announcement, despite robust consumer spending data.
Asian equities showed mixed performance following Wall Street’s decline, with focus on the Federal Reserve’s year-end policy decision.
Gold prices strengthened on Wednesday as traders remained cautious ahead of the Federal Reserve’s monetary policy announcement.
The US dollar remained stable against the yen and major currencies on Wednesday as markets await the Federal Reserve’s stance on rate cuts before BOJ and other central banks’ meetings this week.
FPIs recorded net sales of Rs 278 crore on Monday. DIIs sold shares worth Rs 234 crore.
FIIs’ net short position increased from Rs 60,551 crore on Friday to Rs 75,038 crore on Monday.
