India's Sensex and Nifty dip ahead of U.S. Federal Reserve rate decision

  • Stock Market News
India's Sensex and Nifty dip ahead of U.S. Federal Reserve rate decision

In anticipation of the U.S. Federal Reserve's interest rate decision, the Indian stock market experienced a mixed day on Wednesday. The Sensex fell to 63,772.41, and the Nifty 50 dropped to 19,050.20 by midday. Despite this downtrend, certain sectors managed to advance, including realty and energy, while the metals sector experienced a sharp decline.

Simultaneously, S&P 500 futures edged lower after rebounding on the final day of October. This shift occurred as the U.S. government's new borrowing plan came under scrutiny.

The performance of key Indian companies also impacted the market trends. Bajaj Finance, Mahindra & Mahindra, Reliance Industries, State Bank of India, and Tata Consumer Products positively influenced the Nifty. In contrast, Axis Bank, Asian Paints, HDFC Bank, Larsen & Toubro, and Kotak Mahindra applied downward pressure.

The S&P BSE MidCap index saw a slight rise while the S&P BSE SmallCap index fell. Of the 20 sectors compiled by BSE Ltd., eleven declined. Market breadth on BSE favored buyers with S&P BSE Realty and S&P BSE Telecommunication sectors rising the most.

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