Dalal Street took a breather on Wednesday as investors preferred to book profits after a 496-point rally on the Sensex in previous session. Equity benchmarks closed rangebound session lower on caution ahead of Federal Reserve rate decision tonight and GST Council meet on Thursday. Increase in CPI inflation (to 3.65 percent against 3.17 percent MoM) also weighed on the sentiment.
The 30-share BSE Sensex slipped 44.52 points to 29,398.11 and the 50-share NSE Nifty declined 2.20 points to 9,084.80, dragged by technology stocks.
Bank Nifty Outlook:
While a rate hike by the US Federal Reserve is already factored in, markets will keenly watch the Fed’s commentary, experts say. After touching new lows last year, the rupee has appreciated against the US dollar to a fresh 16 month high following the landslide victory of BJP in 4 out of 5 state elections.Rupee opened at 65.76 against the US dollar on Wednesday versus 65.82 on Tuesday. Post the US election outcome rupee depreciated to an all time low of 68.86 against the USD
Nifty 50 Gainers
Nifty 50 Losers
Nifty Resistance & Support
R1 / R2 9150/9280
S1 / S2 9070/9000