Equity indices close lower after volatile trade session
According to market observers, the benchmark indices gave up all their morning gains to close in the red for the second day in a row as traders were cautious ahead of the US Federal Reserve's policy outcome later in the evening. Heavy selling pressure in index heavyweights like Cipla, Adani Ports, State Bank of India, ICICI Bank and Larsen and Toubro pulled the indices lower. The wider Nifty50 of the National Stock Exchange (NSE) fell by 47.20 points or 0.46 per cent to provisionally close (at 3.30 p.m.) at 10,192.95 points. The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,229.73 points, closed at 33,053.04 points -- down 174.95 points or 0.53 per cent -- from Tuesday's close. The Sensex touched a high of 33,404.26 points and a low of 32,988.82 points during the intra-day trade. The BSE market breadth was bearish -- 1,724 declines and 944 advances. On Tuesday, the equity indices closed in the red -- snapping a three-day gaining streak -- as rising crude oil prices, along with negative global cues, hampered investors' risk-taking appetite. The NSE Nifty50 edged lower by 82.10 points or 0.80 per cent to close at 10,240.15 points, while the BSE Sensex closed at 33,227.99 points -- down 227.80 points or 0.68 per cent.