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BSE: In volatile business, the BSE Sensex closed with a slight decline of 29 points on Tuesday. Investors turned cautious ahead of the US central bank Federal Reserve’s monetary policy review to be released on Wednesday. According to traders, capital withdrawal by foreign institutional investors and higher crude oil prices also affected investor sentiment.

The 30-share BSE Sensex closed at 66,355.71 points, down 29.07 points, or 0.04 per cent, in volatile trade. During the trading, it went up to 66,559.29 points in high and came down to 66,177.62 points in the bottom. On the other hand, the National Stock Exchange’s Nifty closed at 19,680.60 points with a slight gain of 8.25 points, or 0.04 percent. It remained in the range of 19,729.35 to 19,615.95 points during the business.

Vinod Nair, Head of Research, Geojit Financial Services, said that ahead of the Federal Reserve’s monetary policy announcement, the domestic equity market remained in a narrow range. Metal shares gained on China’s commitment to a policy to support the realty sector. Shares of utility companies strengthened on hopes of better operating margins.

Nair said that the stock market declined in the last 2 sessions after both the benchmark indices (Sensex and Nifty) hit record highs. The reason for this is the quarterly financial results of some major companies not being as expected, the withdrawal of foreign institutional investors and the strengthening of the dollar.

JSW Steel, Tata Steel, NTPC and UltraTech Cement were major gainers in the Sensex pack. In these, there was a speed of up to 3.33 percent. On the other hand, Asian Paints, ITC, L&T and SBI were among the losers. In these, there was a decline of up to 3.95 percent. The BSE Midcap index gained 0.39 percent and the Smallcap index gained 0.31 percent.

Siddharth Khemka, head of retail research at Motilal Oswal Financial Services, said the Nifty remained under pressure for the third day in a row. It finally settled at 19,681 with a slight gain. Sector-wise, there was a mixed trend. Buying was seen in metals, vehicles and consumer durables.

He said that we estimate that the market will remain cautious before the monetary policy review of the Federal Reserve. There is a possibility that the Federal Reserve will increase the policy rate by 0.25 percent in the monetary policy review on Wednesday. In other Asian markets, Hong Kong’s Hangseng and China’s Shanghai Composite were strong while Japan’s Nikkei was in loss.

Major markets in Europe were up in early trade. US markets were overall in the green on Monday. Meanwhile, global oil benchmark Brent crude was trading 0.18 per cent lower at $82.59 per barrel. According to stock market data, foreign institutional investors (FIIs) remained sellers on Monday. He sold shares worth Rs 82.96 crore.(Language)

Edited By: Ravindra Gupta