Markets

Sensex tanks 324 points as investors remain wary ahead of Fed policy meet

Our Bureau Agencies Mumbai | Updated on November 25, 2017

The Sensex and the Nifty plunged nearly 1.4 per cent at the closing session as investors turned wary ahead of the Federal Reserve two-day policy meeting.

Investors braced for a possible hawkish shift in the Federal Reserve's policy stance in the lead-up to the US central bank's two-day policy meeting later in the day.

The 30-share BSE index Sensex plunged 324.05 points to end at 26,492.51 and the 50-share NSE index Nifty fell 109.10 points to close at 7,932.90.

Among BSE sectoral indices, realty, power, PSU and infrastructure indices fell the most by 3.42 per cent, 3.26 per cent, 3.12 per cent and 3.05 per cent, respectively.

Dr Reddy's, HUL, ITC, Infosys and Sun Pharma were the top five Sensex gainers, while the top five losers were Tata Power, Tata Steel, Axis Bank, ONGC and L&T.

European markets

The Stoxx Europe 600 Index retreated 0.5 per cent to 342.23 at 11.15 a.m. in London. The equity gauge has fallen 1.9 per cent since reaching a two-month high on September 4 amid investor concern over the Scottish referendum and central-bank stimulus policies.

Standard & Poor’s 500 Index futures lost 0.1 per cent, and the MSCI Asia Pacific Index fell 0.5 per cent.

Investors were reluctant to dip back into the market ahead of the U.S. Federal Reserve's two-day policy meeting, due to start today, and a referendum on independence for Scotland from the United Kingdom on Thursday.

Asian shares touch 10-week lows

Asian shares fell to 10-week lows on Tuesday as investors braced for a possible hawkish shift in the Federal Reserve's policy stance in the lead-up to the US central bank's two-day policy meeting later in the day.

Fed policy meet

Speculation that the Fed could raise interest rates sooner and faster than previously expected has rattled many share markets around the globe and supported the US dollar.

The Fed's Open Market Committee will begin its regular two-day policy meeting later on Tuesday, and investors will be scanning the outcome for clues on the timing of the first US rate hike in more than eight years.

US central bank policymakers will also release fresh economic and interest-rate projections, extending their forecast horizon through 2017.

Published on September 16, 2014

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