Sensex and Nifty Pull Back from Record Peaks, Close Lower Ahead of Fed Decision

Benchmark equity indices, the BSE Sensex and NSE Nifty50, pulled back from record highs to close in the red on Wednesday, ahead of the US Federal Reserve’s policy announcement later in the day.

The BSE Sensex dropped 131.43 points, or 0.16%, settling at 82,948.23, after reaching an intraday high of 83,326.38. Similarly, the NSE Nifty, which hit a record high of 25,482.20, ended the session at 25,377.55, down 41 points, or 0.16%.

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Among the Nifty50 constituents, 33 stocks closed lower, with TCS, Infosys, HCL Tech, Tech Mahindra, and Wipro leading the declines, falling by as much as 3.50%. In contrast, 19 stocks, including Shriram Finance, Bajaj Finance, Bajaj Finserv, Nestle India, and HDFC Bank, managed to gain, rising up to 4.22%.

On the BSE, 19 Sensex stocks also finished lower, dragged down by TCS, Infosys, Tech Mahindra, HCL Tech, and Sun Pharma, which fell by up to 3.46%. However, Bajaj Finance, Bajaj Finserv, Nestle India, and HDFC Bank saw gains of up to 3.36%.

The Nifty index was the worst performer among sectoral indices, ending down 3.05%, largely due to declines in Mphasis, TCS, and Persistent Systems. Conversely, the financial and banking sectors outperformed, with the Nifty Financial Services and Bank Nifty indices rising by 1.40% and 1.06%, respectively. The Nifty Private Bank and PSU Bank indices also posted gains of up to 0.96%.

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