Wednesday, 14 December 2016

Sensex, Nifty close lower on caution ahead of Fed meet outcome

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Equity benchmarks reversed some of previous day's gains amid volatility on Wednesday as investors maintained caution ahead of the outcome of Federal Reserve policy meeting. The 30-share BSE Sensex was down 94.98 points at 26602.84 and the 50-share NSE Nifty fell 39.35 points to 8182.45. The broader markets also lost shine in last couple hours of trade, with the BSE Midcap and Smallcap indices falling 0.8 percent each on weak breadth. 

About two shares declined for every share rising on the exchange. A 25 basis points rate hike is largely priced in. Hence, the most important factor to watch out for would be Federal Reserve's commentary on economic outlook, inflation and further rate hikes, experts say. Hawkish commentary, if any, may drive emerging markets lower on Thursday.

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