Chennai, India (BBN) – The benchmark BSE Sensex was trading down by 130 points due to unwinding of positions in blue-chips by participants ahead of IIP and retail inflation data to be released after market closing today.
Traders also remained wary ahead of US Fed meet to begin later today. Traders see an 85-per cent probability for a 25 basis point hike to the Fed funds rate target and a 15-per cent chance of a 50 basis point hike, which would be the third rate hike this year, according to CME Group’s Fedwatch tool, reports The Hindu Business Line.
At 11.30 a.m., the 30-share BSE index Sensex was down 129.79 points or 0.39 per cent at 33,326 and the 50-share NSE index Nifty was down 50.7 points or 0.49 per cent at 10,271.55.
Top five Sensex gainers were Dr Reddy’s (+3.6%), ONGC (+1.29%), Reliance (+0.97%), Adani Ports (+0.8%) and Lupin (+0.74%), while the major losers were ITC (-1.51%), ICICI Bank (-1.38%), NTPC (-1.37%), Bharti Airtel (-1.31%) and Asian Paints (-1.16%).
Among BSE sectoral indices, metal index was up 0.84 per cent, followed by consumer durables 0.36 per cent, healthcare 0.12 per cent and infrastructure 0.08 per cent. On the other hand, power index fell the most by 1.01 per cent, followed by banking 0.82 per cent, FMCG 0.77 per cent and realty 0.62 per cent.
Asian shares took a breather on Tuesday after three straight sessions of gains, with markets consolidating in the hope an upswing in global growth could outlast a likely hike in US borrowing costs this week.
MSCI’s broadest index of Asia–Pacific shares outside Japan dithered either side of flat having bounced 2 per cent in the past three sessions.
Moves were minor across the region, with blue chip Chinese shares off 0.2 per cent and Australia up 0.1 per cent. Japan’s Nikkei was likewise steady, after the index scored its highest close in 25 years on Monday.
Wall Street had been led higher by technology and energy stocks, with Apple Inc making the biggest contribution. The Dow rose 0.23 per cent, while the S&P 500 added 0.32 per cent and the Nasdaq 0.51 per cent.