Sensex, Nifty fall after record-breaking rally; investors await Fed rate decision

On Sept. 18, Sensex & Nifty ended lower after 11-day rally due to weak global markets & caution ahead of Fed's rate decision. HDFC Bank, Bharti Airtel, Infosys, UltraTech Cement, Tata Steel, Wipro, Kotak Mahindra Bank, Reliance Industries, Tech Mahindra & JSW Steel were major laggards. Asian markets ended mixed, while European & US markets ended in negative territory. FIIs bought equities worth Rs 164.42 crore. Brent crude rose 0.39% to $94.30/barrel.

Benchmark stock indices Sensex and Nifty declined on September 18 after a record-breaking rally in line with weak trends in global markets and caution ahead of the U.S. Federal Reserve's interest rate decision.

Snapping its 11-day rally, the 30-share BSE Sensex fell 241.79 points or 0.36% to settle at 67,596.84. During the day, it declined by 305.8 points or 0.45% to a low of 67,532.83.

The broader Nifty declined 59.05 points or 0.29% to end at 20,133.30.

Among the Sensex firms, HDFC Bank, Bharti Airtel, Infosys, UltraTech Cement, Tata Steel, Wipro, Kotak Mahindra Bank, Reliance Industries, Tech Mahindra and JSW Steel were the major laggards.

Power Grid, Titan, Mahindra & Mahindra and NTPC were among the gainers.

Vinod Nair, Head of Research at Geojit Financial Services, said, "Domestic markets relinquished their momentum as they anticipated a raft of policy rate decisions due this week.

"The investor's confidence was also impacted by the expectations of a demand resurgence in China, combined with crude supply cuts. With the Fed rate hike fears back on the cards, as reflected in the elevated U.S. bond yields, the markets await clarification from major central banks.