BUSINESS
NTPC was the biggest loser in Sensex. Bharti Airtel fell over 1.6% a day after Trai lowered roaming charges for calls and SMSs.
Retreating from one-week highs, the S&P BSE Sensex today closed nearly 103 points down at 19,223.28 on selling in bluechips like HDFC Bank, ICICI Bank
and ITC, amid weakness in global markets ahead of US Federal Reserve's decision over continuing monetary stimulus.
After opening nearly flat at 19329.17, the 30-share benchmark index witnessed volatility and touched an intra-day low of 19191.37. Snapping a two-day winning run where it had gained 499 poins, the Sensex today closed at 19223.28, down
102.59 points or 0.53%.
Traders adopted caution today and appeared to book profits as global markets keenly awaited decisions from the US Fed, whose two-day policy-meeting starts today. Investors are looking for signals if Fed will roll back at least partially USD 85 billion in monthly bond purchases after US economy showed some recovery in recent weeks, brokers said.
In a weak session, the rupee was trading at 58.59 a US dollar -- down a whopping 72 paise or 1.24%.
"Weakness in global markets ahead of Fed’s decision over continuing its stimulus plan, falling Rupee and selling from FIIs kept the indices under pressure," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited.
Lenders led by ICICI Bank, State Bank of India and HDFC Bank closed down. NTPC was the biggest loser in Sensex. Bharti Airtel fell over 1.6% a day after Trai lowered roaming charges for calls and SMSs.
The BSE banking index fell the most by losing 1.20%, followed by consumer durable index by 1.09%, Capital goods index by 0.86% and power index by 0.64%. However, bucking the overall weak trend, IT major Infosys gained on hopes of better earnings on weak rupee.
The NSE index Nifty lost 36.45 points, or 0.62% to 5,813.60, after rising to 5,863.40 at the outset. Also, SX40 index, the flagship index of MCX-SX, closed at 11413.03, down 44.81 points or 0.39%.
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